Fifth Third - 52 Week High

Published on Friday, 31 August 2012 12:34 Written by TradersHuddle Wire

New York, August 31st (TradersHuddle.com) - Shares of Fifth Third Bancorp (NASDAQ:FITB) booked a new 52 week high today by trading above $15.17, traders are definitely monitoring Fifth Third's price action to see if this move attracts further buying into the stock.

Fifth Third Bancorp (NASDAQ:FITB) is a diversified financial services company headquartered in Cincinnati, Ohio. The company operates banking centers in in the Midwestern and Southeastern regions of the United States. Its principal businesses include retail banking, commercial banking, investment advisory, and data processing.

Fifth Third is currently trading 0.5% versus its previous trading session close, and it has calculated support and resistance at $13.50 and $15.02 respectively. Clearly, with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range.

The overall market index S&P 500 is trading higher by 0.37% from its previous trading close, which means that Fifth Third stock is outperforming the overall market.