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TMCNet:  Watch for Shares of Charles Schwab (SCHW) to Approach Resistance at $16.75

[March 04, 2013]

Watch for Shares of Charles Schwab (SCHW) to Approach Resistance at $16.75

Mar 04, 2013 (SmarTrend(R) News Watch via COMTEX) -- Shares of Charles Schwab (NASDAQ:SCHW) opened today above their pivot of $16.29 and have already reached the first level of resistance at $16.57. Analysts will be watching for a cross of the next upside pivot targets of $16.75 and $17.21.

Charles Schwab (NASDAQ:SCHW) defies analysts with a current price ($16.62) 2.1% above its average consensus price target of $16.26. The stock should find initial support at its 50-day moving average (MA) of $15.78 and further support at its 200-day MA of $13.69.

Charles Schwab share prices have moved between a 52-week high of $17.41 and a 52-week low of $11.64 and are now trading 43% above that low price at $16.62 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.7% while the 200-day MA has risen 0.6%.

SmarTrend recommended that subscribers consider buying shares of Charles Schwab on December 18th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $14.01. Since that recommendation, shares of Charles Schwab have risen 17.1%. We continue to monitor SCHW 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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