Bearish Moving Average Cross by SunTrust Banks (STI)
Today, shares of SunTrust Banks (NYSE:STI) have crossed bearishly below their 10-day moving average of $40.76 on a volume of 928K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Over the past year, SunTrust Banks has traded in a range of $31.07 to $45.84 and is now at $40.63, 31% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 1.5%.
SmarTrend is tracking the current trend status for SunTrust Banks and will alert subscribers who have STI in their portfolio or watchlist when shares have changed trend direction.
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