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Stock Investors Bid Up Shares of Westpac Banking, Up 3.3%

Published on Mon, 06/17/2013 - 10:47
By Adrienne Chilton

Up 3.3% to $141.36, Westpac Banking (NYSE:WBK), is one of today's notable movers. The S&P is currently trading 1.0% higher to 1,643 and the Dow Jones Industrial Average is trading 1.1% higher to 15,233.

Westpac Banking has overhead space with shares priced $141.36, or 13.3% below the average consensus analyst price target of $162.95. The stock should find initial resistance at its 200-day moving average (MA) of $143.29 and further resistance at its 50-day MA of $155.31.

Westpac Banking Corporation offers general and savings banking, including lending, deposit taking and payment services. Westpac also provides investment portfolio management and advice, unit trust and superannuation fund management, nominee and custodian facilities, insurance services, consumer finance, leasing, general finance, foreign exchange dealing and money market services.

In the past 52 weeks, shares of Westpac Banking have traded between a low of $101.71 and a high of $175.59 and are now at $141.36, which is 39% above that low price. The 200-day and 50-day moving averages have moved 0.06% higher and 1.8% lower over the past week, respectively.

By Adrienne Chilton
achilton@fnno.com