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United Bankshares Set to Pullback after Yesterday's Rally of 3.18% (UBSI)

Written on Mon, 07/26/2010 - 6:43am
By Chip Brian

United Bankshares (NASDAQ:UBSI) traded in a range yesterday that spanned from a low of $24.50 to a high of $25.75. Yesterday, the shares gained 3.18%, which took the trading range above the 3-day high of $24.97 on volume of 210,000 shares.
Shares of United Bankshares are currently trading above their 200-day moving average (MA) of $23.62 and should find resistance at their 50-day MA of $26.11. Look for these MAs to provide support for a short-term pullback in the shares.
SmarTrend is bullish on shares of United Bankshares and our subscribers were alerted to Buy on July 13, 2010 at $25.57. The stock has risen 0.2% since the alert was issued.
SmarTrend has the shares in an Uptrend and expects the share price to pullback toward the $24.97 support level. Afterwards, we expect it to move upward with its peers in the SmarTrend Regional Banks- Mid Atlantic industry.

Keywords: united bankshares trading range stock news

Ticker(s): UBSI

Contact Chip Brian



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