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Wednesday, March 28, 2012

Financial Stocks Jump (SLM) (GCA) (MBI) (MKL)

SLM Corp (NASDAQ: SLM): fell by 1.65% or $-0.265/share to $15.76. In the past year, the shares have traded as low as $10.91 and as high as $17.11. On average, 3769390 shares of SLM exchange hands on a given day and today's volume is recorded at 6494642. The shares are currently trading below the 50-day moving average but above the 200-day moving average. The stock may be range bound between these two levels where the 50-day moving average of $16.12 represents resistance and the 200-day moving average of $14.15 would be an area of support.

Global Cash Access Hldgs (NYSE: GCA): traded higher by 7.36% or $0.515/share to $7.52. In the past year, the shares have traded as low as $2.07 and as high as $7.15. On average, 575660 shares of GCA exchange hands on a given day and today's volume is recorded at 1787386. The shares are currently trading above the 50-day moving average which indicates that the shares have been experiencing strong upward momentum as the 50 DMA is above the 200 DMA. The stock may come back down to test the 50-day moving average, so look for a move back to the $6.00 area where the stock will likely see buying pressure.

MBIA Inc. (NYSE: MBI): traded higher by 4.33% or $0.41/share to $9.87. In the past year, the shares have traded as low as $5.99 and as high as $13.50. On average, 2371460 shares of MBI exchange hands on a given day and today's volume is recorded at 3853986. The shares are currently trading below the 200-day moving average which indicates that the shares have been suffering from downward momentum lately. The stock may bounce higher to test the 200-day moving average, so look for a move up to the $9.95 area where the stock may encounter resistance.

Markel Corporation (NYSE: MKL): traded higher by 5.56% or $23.6/share to $448.10. In the past year, the shares have traded as low as $337.50 and as high as $430.26. On average, 21329 shares of MKL exchange hands on a given day and today's volume is recorded at 59834. The shares are currently trading above the 50-day moving average which indicates that the shares have been experiencing strong upward momentum as the 50 DMA is above the 200 DMA. The stock may come back down to test the 50-day moving average, so look for a move back to the $413.38 area where the stock will likely see buying pressure.