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Watch for Itau Unibanco Holding SA to Potentially Pullback After Gaining 1.80% Yesterday

By Nick Russo

Itau Unibanco Holding SA (NYSE:ITUB) traded in a range yesterday that spanned from a low of $11.26 to a high of $11.42. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $11.36 on volume of 12.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that subscribers consider buying shares of Itau Unibanco Holding SA on July 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $9.76. Since that recommendation, shares of Itau Unibanco Holding SA have risen 14.1%. We continue to monitor ITUB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, Itau Unibanco Holding SA share prices have been bracketed by a low of $5.48 and a high of $12.93 and are now at $11.37, 107% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 2.4%.

Keywords: rebounders Itau Unibanco Holding SA

Ticker(s): ITUB