Bearish Average Crossover for Pacific Capital Bancorp (PCBC)
Published on 07/28/2010 by Leo Goldman
NEW YORK (Market Intellisearch) -- The stock price of Pacific Capital Bancorp crossed below the 50-day moving average on heavier than usual volume.
The crossing of the stock price below the 50-day moving average may signal the beginning of a bearish trend.
Shares of PCBC declined $0.19(-15.45%) to $1.04 in today's trading session.
PCBC traded between the range of $1.02 - $1.37. Today's trading activities for Pacific Capital Bancorp stock may be a sign that the shares
will continue to head lower in the foreseeable future assuming the moving average has downward slope.
Those who are day trading online know that while there are multiple reasons for purchasing and holding a stock, the overall market movement is
based on human instinct. With that in mind, different styles of trading should utilize support and resistance analysis for potential market gain.
Based on the pivot points, the current support and resistance levels for Pacific Capital Bancorp are 0.91 and 1.26 respectively. If the support point price is broken in an downward movement, then the bearish trend is likely to continue and vice versa.
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