Might Pare Back on Northern Trust

Last Friday's surge in Northern Trust (NTRS) filled a major breakdown gap that the stock had left behind back in July. Shares gained 2.5% on the last day of the week, pushing the price up to the $61 area. This breakout-type move extended a healthy bull run that had begun in early October and, at today's peak, has carried shares more than 15% higher. Northern Trust is now trading just shy of its 52-week high, which was set in July. Back then, the stock had put in an ugly downside reversal before it had begun a steep 12-week slide.

Northern Trust (NTRS) -- Daily Source: FreeStockCharts.com View Chart » View in New Window »

A week after shares bottomed in early October, Northern Trust surprised investors with solid numbers in its third-quarter report. The stock initially ramped on the news, but it needed a bit more time to get its legs. After a week of post-earnings chop, shares began a steady yet volatile climb. Northern Trust put in a higher high in October, and did so again in November, as shares held support near their 200-day moving average. The trend has continued this month with the help of nice growth in upside trade....173 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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