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First Niagara Financial Group Bullish Moving Average Crossover Alert (FNFG)

Published on Fri, 04/19/2013 - 11:13
By Peter Chu

First Niagara Financial Group (NASDAQ:FNFG) shares have crossed bullishly above their 10-day moving average of $8.97 on a volume of 3.6 million shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

First Niagara Financial Group, Inc. is a bank holding company. The Banks provide an array of deposit products and loans, as well as insurance, leasing, investment advisory services, insurance agency services, and trust services.

Over the past year, First Niagara Financial Group has traded in a range of $7.08 to $9.60 and is now at $9.11, 29% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has risen 0.3%.

First Niagara Financial Group (NASDAQ:FNFG) is currently priced 3.3% above its average consensus analyst price target of $8.81. The stock should discover initial support at its 50-day moving average (MA) of $8.47 and subsequent support at its 200-day MA of $8.05.

By Peter Chu
pchu@fnno.com