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Upgrade Alert for Charles Schwab (SCHW)

By James Quinn

Charles Schwab (NASDAQ:SCHW) was upgraded from Hold to Buy at SunTrust today. The stock closed yesterday at $32.21 on volume of 10.3 million shares, above average daily volume of 7.4 million.

In the past 52 weeks, Charles Schwab share prices have been bracketed by a low of $21.51 and a high of $35.72 and closed yesterday at $32.21, 50% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has slid 0.5%.

The Charles Schwab Corporation provides a variety of financial services to individual investors, independent investment managers, retirement plans, and institutions. The Company provides its clients with securities brokerage, banking, and related financial services through offices in the United States, Puerto Rico, and the United Kingdom.

There is potential upside of 6.1% for shares of Charles Schwab based on a current price of $32.21 and an average consensus analyst price target of $34.19. The stock should discover initial support at its 200-day moving average (MA) of $29.65 and subsequent support at its 50-day MA of $27.81.

SmarTrend recommended that subscribers consider buying shares of Charles Schwab on July 14th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $27.06. Since that recommendation, shares of Charles Schwab have risen 17.1%. We continue to monitor SCHW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades Charles Schwab

Ticker(s): SCHW