Today, shares of UBS (NYSE:UBS) have crossed bullishly above their 10-day moving average of $16.03 on a volume of 843K 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.
UBS AG is a wealth management, investment banking, and asset management firm. The Company provides a variety of financial services to individuals, institutions, corporations, governments, and financial intermediaries around the world.
Over the past year, UBS has traded in a range of $9.78 to $17.00 and is now at $16.15, 65% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.6% while the 200-day MA has risen 0.3%.
Potential upside of 7.8% exists for UBS, based on a current level of $16.15 and analysts' average consensus price target of $17.41. The stock should discover initial support at its 50-day moving average (MA) of $15.31 and subsequent support at its 200-day MA of $12.83.