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Watch for Shares of Bryn Mawr Bank (BMTC) to Approach Resistance at $19.00

Written on Mon, 07/26/2010 - 1:29pm
By Chip Brian

SmarTrend has detected shares of Bryn Mawr Bank (NASDAQ:BMTC) have bullishly opened above the pivot of $17.48 today and have reached the first resistance level of $18.45.
We are watching for a cross of the next upside pivot targets of $19.00 and $20.52. Also, the shares should find initial support at the 50-day moving average of $17.40 and further support at the 200-day moving average of $16.84.
SmarTrend, our proprietary pattern recognition system, alerted subscribers to sell shares of Bryn Mawr Bank on May 20, 2010 at $17.55. Since the call, the stock has fallen -5.3%.

Keywords: bryn mawr bank pivot points

Ticker(s): BMTC

Contact Chip Brian



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