Moving Average Crossover: Great News for Itau Unibanco (ITUB)?

Zacks

Itau Unibanco Holding SA (ITUB) could be a stock to avoid from a technical perspective, as the firm is seeing unfavorable trends on the moving average crossover front. Recently, the 50 Day Moving Average for ITUB broke out below the 200 Day Simple Moving Average, suggesting short-term bearishness.

This has already started to take place, as the stock has moved lower by 4.3% in the past four weeks. Plus, the company currently has a Zacks Rank #4 (Sell) meaning that now could definitely be the time to get out of this potentially in-trouble stock.



ITAU UNIBANCO BANCO MULTIPLO SA (ITUB): Free Stock Analysis Report


Zacks Investment Research

Rates

View Comments (0)