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Watch for Shares of Charles Schwab (SCHW) to Approach Resistance at $16.75
[March 04, 2013]

Watch for Shares of Charles Schwab (SCHW) to Approach Resistance at $16.75

Mar 04, 2013 (SmarTrend(R) News Watch via COMTEX) -- Shares of Charles Schwab (NASDAQ:SCHW) opened today above their pivot of $16.29 and have already reached the first level of resistance at $16.57. Analysts will be watching for a cross of the next upside pivot targets of $16.75 and $17.21.

Charles Schwab (NASDAQ:SCHW) defies analysts with a current price ($16.62) 2.1% above its average consensus price target of $16.26. The stock should find initial support at its 50-day moving average (MA) of $15.78 and further support at its 200-day MA of $13.69.

Charles Schwab share prices have moved between a 52-week high of $17.41 and a 52-week low of $11.64 and are now trading 43% above that low price at $16.62 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.7% while the 200-day MA has risen 0.6%.

SmarTrend recommended that subscribers consider buying shares of Charles Schwab on December 18th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $14.01. Since that recommendation, shares of Charles Schwab have risen 17.1%. We continue to monitor SCHW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

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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