Transforming Network Infrastructure Industry News

TMCNet:  Fifth Third Bancorp (FITB) Approaches New Upside Target of $15.65

[January 16, 2013]

Fifth Third Bancorp (FITB) Approaches New Upside Target of $15.65

Jan 16, 2013 (SmarTrend(R) News Watch via COMTEX) -- Shares of Fifth Third Bancorp (NASDAQ:FITB) opened today above their pivot of $15.36 and have already reached the first level of resistance at $15.53. Should the shares continue to rise, the resistance pivots of $15.65 and $15.94 will be of interest.

Fifth Third Bancorp share prices have moved between a 52-week high of $16.16 and a 52-week low of $12.04 and are now trading 29% above that low price at $15.54 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.4%.

Fifth Third Bancorp (NASDAQ:FITB) has potential upside of 7.9% based on a current price of $15.54 and analysts' consensus price target of $16.76. The stock should find initial support at its 50-day moving average (MA) of $14.76 and further support at its 200-day MA of $14.36.

SmarTrend is monitoring the recent change of momentum in Fifth Third Bancorp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Fifth Third Bancorp in search of a potential trend change.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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