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Recent 52-Week High Exceeded in Shares of State Street (STT)

By Nick Russo

State Street (NYSE:STT) traded at a new 52-week high today of $72.64. Approximately 635,000 shares have changed hands today, as compared to an average 30-day volume of 2.6 million shares.

Over the past year, State Street has traded in a range of $44.05 to $72.64 and is now at $72.60, 65% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.4%.

State Street Corporation services institutional investors and manages financial assets worldwide. The Company's products and services include custody, accounting, administration, daily pricing, international exchange services, cash management, financial asset management, securities lending, and investment advisory services.

State Street (NYSE:STT) has potential upside of 3.7% based on a current price of $72.60 and analysts' consensus price target of $75.29. State Street shares have support at the 50-day moving average (MA) of $68.63 and additional support at the 200-day MA of $64.79.

SmarTrend recommended that subscribers consider buying shares of State Street on October 17th, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $68.72. Since that recommendation, shares of State Street have risen 4.9%. We continue to monitor STT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows State Street

Ticker(s): STT