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Watch for Shares of Charles Schwab (SCHW) to Approach Support at $13.01
[November 26, 2012]

Watch for Shares of Charles Schwab (SCHW) to Approach Support at $13.01

Nov 26, 2012 (SmarTrend(R) News Watch via COMTEX) -- Shares of Charles Schwab (NASDAQ:SCHW) have bearishly opened below the pivot of $13.18 today and have reached the first support level of $13.12. Investors may be interested in a cross of the next downside pivot targets of $13.01 and $12.84.

Over the past year, Charles Schwab has traded in a range of $10.67 to $15.53 and is now at $13.13, 23% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.3%.

Charles Schwab (NASDAQ:SCHW) has potential upside of 6.5% based on a current price of $13.13 and analysts' consensus price target of $13.99. The stock should find initial resistance at its 200-day moving average (MA) of $13.21 and further resistance at its 50-day MA of $13.41.

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

Write to Chip Brian at --------------------------------------------------------------------------------------------- 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 Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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