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Next Resistance Level for Huntington Bancshares (HBAN) is $6.11
Nov 19, 2012 (SmarTrend(R) News Watch via COMTEX) --
Shares of Huntington Bancshares (NASDAQ:HBAN) have bullishly opened above the pivot of $5.98 today and have reached the first resistance level of $6.06. Should the shares continue to rise, the resistance pivots of $6.11 and $6.24 will be of interest.
Huntington Bancshares share prices have moved between a 52-week high of $7.70 and a 52-week low of $4.46 and are now trading 37% above that low price at $6.09 per share. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.
Huntington Bancshares (NASDAQ:HBAN) has potential upside of 18.1% based on a current price of $6.09 and analysts' consensus price target of $7.20. The stock should run into initial resistance at its 200-day moving average (MA) of $6.38 and subsequent resistance at its 50-day MA of $6.77.
SmarTrend recommended that its subscribers protect gains by selling shares of Huntington Bancshares on October 23rd, 2012 by issuing a Downtrend alert when the shares were trading at $6.34. Since that call, shares of Huntington Bancshares have fallen 5.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Write to Chip Brian at cbrian@mysmartrend.com
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