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TMCNet:  Huntington Bancshares (HBAN) Approaches New Downside Target of $6.89

[February 21, 2013]

Huntington Bancshares (HBAN) Approaches New Downside Target of $6.89

Feb 21, 2013 (SmarTrend(R) News Watch via COMTEX) -- Shares of Huntington Bancshares (NASDAQ:HBAN) have bearishly opened below the pivot of $7.06 today and have reached the first support level of $6.95. Analysts will be watching for a cross of the next downside pivot targets of $6.89 and $6.72.

Huntington Bancshares share prices have moved between a 52-week high of $7.70 and a 52-week low of $4.46 and are now trading 56% above that low price at $6.96 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.

There is potential upside of 7.2% for shares of Huntington Bancshares based on a current price of $6.96 and an average consensus analyst price target of $7.46. The stock should find initial support at its 50-day moving average (MA) of $6.72 and further support at its 200-day MA of $6.52.

SmarTrend recommended that subscribers consider buying shares of Huntington Bancshares on January 3rd, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $6.60. Since that recommendation, shares of Huntington Bancshares have risen 6.2%. We continue to monitor HBAN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- 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

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