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Us Bancorp (USB) Approaches New Downside Target of $52.63

By James Quinn

Shares of Us Bancorp (NYSE:USB) opened today below their pivot of $53.18 and have already reached the first level of support at $52.85. Investors may be interested in a cross of the next downside pivot targets of $52.63 and $52.08.

Over the past year, Us Bancorp has traded in a range of $47.57 to $61.11 and is now at $53.08, 12% above that low. The 200-day and 50-day moving averages have moved 0.05% higher and 0.72% lower over the past week, respectively.

Potential upside of 8.6% exists for Us Bancorp, based on a current level of $53.08 and analysts' average consensus price target of $57.62. The stock should find initial resistance at its 200-day moving average (MA) of $55.05 and further resistance at its 50-day MA of $56.65.

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

Keywords: pivot alerts us bancorp

Ticker(s): USB