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Watch for Shares of Fifth Third Bancorp (FITB) to Approach Resistance at $14.66

Written on Mon, 12/10/2012 - 1:53pm
By Shiri Gupta

Shares of Fifth Third Bancorp (NASDAQ:FITB) opened today above their pivot of $14.47 and have already reached the first level of resistance at $14.60. Should the shares continue to rise, the resistance pivots of $14.66 and $14.85 will be of interest.

Fifth Third Bancorp has overhead space with shares priced $14.66, or 12.2% below the average consensus analyst price target of $16.70. The stock should hit resistance at its 50-day moving average (MA) of $14.99, as well as support at its 200-day MA of $14.17.

In the past 52 weeks, Fifth Third Bancorp share prices have been bracketed by a low of $11.67 and a high of $16.16 and are now at $14.66, 26% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.4% while the 200-day MA has remained constant.

SmarTrend is tracking the current trend status for Fifth Third Bancorp and will alert subscribers who have FITB in their portfolio or watchlist when shares have changed trend direction.

Keywords: pivot alerts fifth third bancorp

Ticker(s): FITB

Contact Shiri Gupta



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