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Fifth Third Breaking Out?
Published on Sunday, 08 January 2012 18:28 Written by Christopher Lynn
New York, January 8th (TradersHuddle.com) - Shares of Fifth Third Bancorp (NASDAQ:FITB) closed the trading session at $13.49 just above calculated resistance at $13.22 effectively breaking out, grabbing the attention of momentum traders, which could eventually push the stock to different trading range
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's stock was trading in a well defined range with support at $11.67 and resistance at $13.22, given that this range was broken traders will be closely monitoring the stock
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