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Shares of United Community Banks Receive a Boost, Up 3.6%

Published on Wed, 01/02/2013 - 13:29
By Peter Chu

One of today's stocks on the move is United Community Banks (NASDAQ:UCBI), up 3.6% to $9.78. The S&P is trading higher by 1.7% to 1,450 and the Dow is trading 1.7% higher to 13,323.

Based on a current price of $9.78, United Community Banks is currently 3.5% above its average consensus analyst price target of $9.44. The stock should find initial support at its 50-day moving average (MA) of $8.72 and further support at its 200-day MA of $8.53.

In the past 52 weeks, United Community Banks share prices have been bracketed by a low of $5.95 and a high of $14.65 and are now at $9.78, 64% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.8%.

United Community Banks, Inc. is a multi-bank holding company with locations throughout north Georgia and western North Carolina. The Banks are community oriented and offer retail and corporate banking services including checking, savings, and time deposit accounts, secured and unsecured loans, wire transfers, trust services, and rental of safe deposit boxes.

By Peter Chu
pchu@fnno.com