Fulton financial coporation is a multi-bank holding company. The banks offer a full range of general retail and commercial banking services, including deposits, loans, equipment leasing and financing and credit cards.

For fiscal year 2011, the company has published a net income of $146 million and sales of $576 million. From a fundamental viewpoint, analysts polled by Thomson Reuters’ consensus has recently downgraded several times the earning per share revisions and the revenue revisions.

The stock has made a strong start to the early march with a breakout from an accumulation zone around USD 9.8, a convergent point of the three moving averages which exerted a pressure on the share. Now the technical configuration shows a double-top formation.

In this context, we have lost no time in downgrading this stock to sell with an initial target price of USD 9.4. Moreover we suggest a stop-loss at USD 10.8.