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Sellers Reduce Exposure to Shares of Banco Bilbao Vizcaya Argentaria on 1.2x Above-Average Volume (BBVA)

Published on Mon, 03/25/2013 - 13:14
By Mallory Stone

The price of Banco Bilbao Vizcaya Argentaria shares has slipped to $9.07 (a 4.7% change) on heavy trading volume. Today's volume of 2.1 million shares tops the average 30-day volume of 1.7 million shares. Unusually high volume can signify a potential turning point or validate a breakout.

Banco Bilbao Vizcaya Argentaria, S.A. attracts deposits and offers retail, wholesale, and investment banking services. The Bank offers consumer and mortgage loans, private banking, asset management, insurance, mutual funds, and securities brokerage services. It operates in Europe and Latin America.

In the past 52 weeks, shares of Banco Bilbao Vizcaya Argentaria have traded between a low of $5.30 and a high of $10.57 and are now at $9.07, which is 71% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 1.2% while the 50-day MA has remained constant.

Potential upside of 11.4% exists for Banco Bilbao Vizcaya Argentaria, based on a current level of $9.07 and analysts' average consensus price target of $10.10. The stock should find resistance at its 50-day moving average (MA) of $9.96, as well as support at its 200-day MA of $8.22.

By Mallory Stone