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Itau Unibanco Holding SA Shares Sinking Lower, Down 2.1%

Published on Fri, 06/28/2013 - 10:49
By Adrienne Chilton

One of today's notable stocks in decline is Itau Unibanco Holding SA (NYSE:ITUB), down 2.1% to $12.74. The Dow Jones Industrial Average is now trading 0.5% lower to 14,949 and the S&P is trading 0.3% lower to 1,608.

Itau Unibanco Holding SA attracts deposits and offer retail, commercial, corporate, and private banking services. The Bank offers consumer loans, financial management, insurance, pension plans, treasury services, mortgage loans, lease financing, securities brokerage, and foreign exchange services.

Itau Unibanco Holding SA (NYSE:ITUB) has potential upside of 56.3% based on a current price of $12.74 and analysts' consensus price target of $19.92. The stock should run into initial resistance at its 50-day moving average (MA) of $14.79 and subsequent resistance at its 200-day MA of $14.92.

In the past 52 weeks, Itau Unibanco Holding SA share prices have been bracketed by a low of $11.67 and a high of $17.34 and are now at $12.74, 9% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 1.6%.

By Adrienne Chilton
achilton@fnno.com

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