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Hot Stock of the Day - FITB

May 11, 2009

FITB - Fifth Third Bancorp is a regional bank. Because of its involment in subprime lendings, it incurred big losses and its stock had a free fall and went down to as low as $1.00. In the following days, the stock tested $1.00 three times and all bounced back. On March 31, 2009, the stock closed at $3.00 and seems to have formed a triple bottom pattern. It spent another month to have formed a cup-and-handle. We bought it at $3.53 on April 27, 2009. The stock closed at $8.49 last Friday, a gain of 149% in nine days. Below is its recent Chart. Of couse if you bought it at its low, you will become a big winner: a return of 850% in two months.

 

   
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