Sun Bancorp

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Sun Bancorp ( SNBC) is a bank holding company. Sun Bancorp provides an array of commercial and retail banking services. This stock is trading up 4.3% at $2.63 in recent trading.

Today's Range: $2.52-$2.69

52-Week Range: $2.11-$3.86

Volume: 257,000

Three-Month Average Volume: 145,734

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From a technical perspective, SNBC is moving higher here right off some near-term support at $2.50 with above average volume. This move is pushing SNBC very close to its 50-day moving average of $2.66, which it briefly surpassed in intraday trading after hitting a high of $2.69.

Traders should now look for long-biased trades if SNBC can trigger a major breakout trade back above its 50-day at $2.66 and its 200-day at $2.79 with high-volume. Look for a sustained move or close above those levels with volume that's near or above 145,734 shares. If we get that action soon, then SNBC has a great chance of re-testing and possibly taking out its next significant overhead resistance levels at $3.03 to $3.20.

Sun Bancorp was one of 7 Stocks for 2012 From a Bank Stock Guru.

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