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Look for Shares of BB&T to Potentially Pullback after Yesterday's 1.47% Rise
Mar 07, 2013 (SmarTrend(R) News Watch via COMTEX) --
BB&T (NYSE:BBT) traded in a range yesterday that spanned from a low of $30.70 to a high of $31.33. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $31.25 on volume of 5.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
SmarTrend recommended that subscribers consider buying shares of BB&T on December 18th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $29.34. Since that recommendation, shares of BB&T have risen 4.6%. We continue to monitor BBT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Over the past year, BB&T has traded in a range of $26.86 to $34.37 and is now at $31.14, 16% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.2%.
Write to Chip Brian at cbrian@mysmartrend.com
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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
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