The staff at DividendChannel.com points out two companies whose shares appear to be solidly crossing their all-important 200-day moving averages.
In trading on Friday, shares of Prosperity Bancshares (PB) crossed above their 200-day moving average of $41.20, changing hands as high as $41.43 per share.
This is not the first time in the last few weeks that it has popped above the important 200-day MA level, but it did so solidly. The chart below shows the one-year performance of PB shares versus its 200-day MA:
Click to Enlarge
Shares of Sensient Technologies (SCT) also crossed above their 200-day moving average of $36.77, changing hands as high as $36.80 per share. The chart below shows the one-year performance of SXT shares versus the 200-day MA:
Click to Enlarge
The stock has been in a bit of a trading range lately. If it can push above the recent high of around $37.75, the next stop could be in the area of $40.
Find more breakout stocks at DividendChannel.com.
