[May 15, 2012] Charles Schwab (SCHW) Approaches New Downside Target of $12.71 Tweet May 15, 2012 (SmarTrend(R) News Watch via COMTEX) -- Shares of Charles Schwab (NASDAQ:SCHW) have bearishly opened below the pivot of $12.94 today and have reached the first support level of $12.81. Analysts will be watching for a cross of the next downside pivot targets of $12.71 and $12.48. Potential upside of 20.0% exists for Charles Schwab, based on a current level of $12.86 and analysts' average consensus price target of $15.44. The stock should hit resistance at its 50-day moving average (MA) of $14.17, as well as support at its 200-day MA of $12.64. Charles Schwab share prices have moved between a 52-week high of $18.01 and a 52-week low of $10.56 and are now trading 22% above that low price at $12.86 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.4% while the 200-day MA has slid 0.2%. SmarTrend recommended that its subscribers protect gains by selling shares of Charles Schwab on April 23rd, 2012 by issuing a Downtrend alert when the shares were trading at $13.76. Since that call, shares of Charles Schwab have fallen 6.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- 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 [ Back To TMCnet.com's Homepage ]