Actionable news
0
All posts from Actionable news
Actionable news in FITB: Fifth Third Bancorp,

Fifth Third (FITB) Stock Chart Trending Lower, Barron's Sees Turnaround

NEW YORK (TheStreet) -- Even though Barron's included a simple line chart of Fifth Third Bancorp (FITB - Get Report) in their weekend story on the Midwestern lender, they forgot to pay attention to the trend.

FITB has been under pressure after topping out in June-August, see chart above. Prices have not mounted any meaningful upside attempt despite a rising On-Balance-Volume (OBV) line and a bullish divergence between the price action and the momentum study. Prices remain below the declining 50-day simple moving average.

STOCKS TO BUY: TheStreet's Stocks Under $10 has identified a handful of stocks with serious upside potential. See them FREE for 14-days.

This longer-term view, above, of FITB is pretty neutral. Prices are below the 40-week or 200-day moving average. The OBV line is going nowhere fast and prices are not that oversold to consider buying aggressively. The short- and longer-term view of FITB combine to suggest a $17 to $20 trading range with a likely downward slant.

Separately, TheStreet Ratings team rates FIFTH THIRD...


More