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East West Bancorp(EWBC - Get Report) operates as the holding company for East West Bank, which provides a range of personal and commercial banking services to small and medium-sized businesses, business executives, professionals, and other individuals in California. This stock is trading up 6.2% at $21.53 in recent trading.
Today's Volume: 2.8 million
Average Volume: 1 million
Volume % Change: 293%
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From a technical perspective, EWBC is gapping up sharply higher with above-average volume. This move is quickly pushing EWBC within range of taking out its 50-day at $21.68 and its 200-day at $22.07.
Traders should now look for long-biased trades in EWBC once it sustains a move or close above those moving averages with volume that tracks in near or above 1,028,310 shares. If we get that action soon, then EWBC will setup to re-test or possibly take out its next major overhead resistance levels at $23 to $24.