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Watch for Continued Gains in Shares of Charles Schwab (SCHW)

Published on Thu, 02/07/2013 - 15:20
By Peter Chu

Charles Schwab (NASDAQ:SCHW) traded today at a new 52-week high of $17.27. This new high was reached on above average trading volume as 27.4 million shares traded hands, while the average 30-day volume is approximately 9.7 million shares.

Over the past year, Charles Schwab has traded in a range of $11.64 to $17.27 and is now at $17.24, 48% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.5%.

Charles Schwab (NASDAQ:SCHW) is currently priced 10.2% above its average consensus analyst price target of $15.47. The stock should discover initial support at its 50-day moving average (MA) of $14.70 and subsequent support at its 200-day MA of $13.46.

The Charles Schwab Corporation provides a variety of financial services to individual investors, independent investment managers, retirement plans, and institutions. The Company provides its clients with securities brokerage, banking, and related financial services through offices in the United States, Puerto Rico, and the United Kingdom.

By Peter Chu