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Charles Schwab (SCHW) Breaks Through Resistance at $17.79
[March 08, 2013]

Charles Schwab (SCHW) Breaks Through Resistance at $17.79

Mar 08, 2013 (SmarTrend(R) News Watch via COMTEX) -- Shares of Charles Schwab (NASDAQ:SCHW) have bullishly opened above the pivot of $17.54 today and have reached the first resistance level of $17.79. Investors may be interested in a cross of the next upside pivot targets of $18.01 and $18.48.

Charles Schwab (NASDAQ:SCHW) defies analysts with a current price ($17.85) 8.9% above its average consensus price target of $16.26. The stock should find initial support at its 50-day moving average (MA) of $16.01 and further support at its 200-day MA of $13.78.

In the past 52 weeks, Charles Schwab share prices have been bracketed by a low of $11.64 and a high of $17.88 and are now at $17.85, 53% above that low price. The 200-day and 50-day moving averages have moved 0.64% higher and 1.42% higher over the past week, respectively.


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 25.5%. 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 cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- 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 Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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