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Watch for Fifth Third Banc to Potentially Rebound After Falling 2.00% Yesterday

By David Diaz

Fifth Third Banc (NASDAQ:FITB) traded in a range yesterday that spanned from a low of $26.65 to a high of $27.82. Yesterday, the shares fell 2.0%, which took the trading range below the 3-day low of $27.11 on volume of 4.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Fifth Third Banc have traded between the current low of $26.73 and a high of $34.67 and are now at $26.79. The 200-day and 50-day moving averages have moved 0.17% lower and 0.43% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Fifth Third Banc on May 21st, 2018 by issuing a Downtrend alert when the shares were trading at $31.20. Since that call, shares of Fifth Third Banc have fallen 12.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders fifth third banc

Ticker(s): FITB