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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 --------------------------------------------------------------------------------------------- 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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