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Watch for Shares of E*Trade Financial (ETFC) to Approach Resistance at $10.85
Mar 20, 2013 (SmarTrend(R) News Watch via COMTEX) --
Shares of E*Trade Financial (NASDAQ:ETFC) have bullishly opened above the pivot of $10.49 today and have reached the first resistance level of $10.65. Analysts will be watching for a cross of the next upside pivot targets of $10.85 and $11.21.
Over the past year, E*Trade Financial has traded in a range of $7.08 to $16.83 and is now at $10.77, 52% above that low. The 200-day and 50-day moving averages have moved 0.31% higher and 0.72% higher over the past week, respectively.
E*Trade Financial (NASDAQ:ETFC) is currently priced 4.2% above its average consensus analyst price target of $10.32. The stock should find initial support at its 50-day moving average (MA) of $10.62 and further support at its 200-day MA of $8.95.
SmarTrend recommended that subscribers consider buying shares of E*Trade Financial on December 31st, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $8.82. Since that recommendation, shares of E*Trade Financial have risen 18.4%. We continue to monitor ETFC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Write to Chip Brian at cbrian@mysmartrend.com
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