Boston, MA 04/09/2014 (wallstreetpr) – Huntington Bancshares Incorporated (NASDAQ:HBAN) (Closed at $9.90, Up 0.20%) traded in very tight range of $9.81 and $9.97 before closing above previous day’s closing. The volumes of 7.77 million shares with which it traded yesterday were below average. Huntington is a multi-state bank holding company, and they have declared the date for announcing its first quarter results the impact of which may take the stock to more attractive valuations than they are now.
Huntington Bancshares Incorporated (NASDAQ:HBAN) is in long term uptrend with the formation of higher highs and higher lows and also it is trading strongly above 50 and 200 DMA. The 200 DMA for the stock comes near $9 levels, and even the rising trend line support also comes near these levels. On weekly charts, the 39 period exponential moving average also comes near $9 levels, which suggest strong and multiple supports near $9 levels. On April 4, 2014 this stock has made a fresh 52-week high of $10.29 and it s trading near its 5-year highs. The day it made 52-week high it went on to close negatively and forming a bearish engulfing on daily charts and MACD is also a bit overbought so prices may throwback and come near $9 which may prove to be good buying opportunity.
Currently, the stock of Huntington Bancshares Incorporated (NASDAQ:HBAN) is trading near its 52-week and 5-year highs. The swing low for the stock is near $8.60. The major support for the stock is near $9. Investors can buy this stock near $9 and keep the stop loss of $8.5. Those who are holding this stock can also hold the stock with the same stop losses of $8.5 as the charts are showing very strong upside momentum is yet to come in the stock. Hence the stock has very good future prospects.
