Fifth Third - Top Performing Bank

Published on Friday, 09 December 2011 16:46 Written by Danny Miller

New York, December 9th (TradersHuddle.com) - The KBW Bank Index closed higher at $39.1, which represents 2.65% from its previous close. The bank index had a pretty much broad rally with 23 index components on the plus side.

Fifth Third (NASDAQ:FITB) was the top performer of the banking index, closing at $12.51 representing 4.51%. versus the previous trading session. Shares of Fifth Third, the regional bank with presence in the Midwest and Southeast of the U.S. have defined support at $10.89 and resistance at $12.58.

Synovus (NYSE:SNV) was also among the top performers, closing at $1.41 representing 3.68% from its previous close. Synovus, the financial services holding company based in Coumbus Georgia has calculated support and resistance levels at $1.30 and $1.54 respectively. The other top performer was Citigroup (NYSE:C), which traded at $28.77 representing 3.68% from the previous trading session.

The bank's worst performers include SunTrust Banks (NYSE:STI) that closed at $17.22 or -0.46% from the previous close. Shares of SunTrust Banks, the super regional banking holding company with operations in the Mid-Atlantic and the Southeast have defined support at $16.41 and resistance at $19.48. Also among the worst performers was Marshall & Ilsley (NYSE:MI), which is currently trading at $7.9 representing 0% from the previous trading session.

Today, the banks outperformed the broad market index S&P 500.