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Shares of Comerica Inc Fall to a New 52-Week Low

By Nick Russo

Comerica Inc (NYSE:CMA) traded today at a new 52-week low of $59.72. This new low was reached on below average trading volume as 269,000 shares traded hands, while the average 30-day volume is approximately 2.1 million shares.

Comerica Incorporated is the holding company for business, individual, and investment banks with operations in the United States, Canada, and Mexico. The Company subsidiaries provides services such as corporate banking, international finance, treasury management, community and private banking, small business and individual lending, investment services, and institutional trust.

Over the past year, Comerica Inchas traded in a range of $59.72 to $100.64 and are now at $59.72. The 200-day and 50-day moving averages have moved 0.36% lower and 0.67% lower over the past week, respectively.

Potential upside of 72.5% exists for Comerica Inc, based on a current level of $59.72 and analysts' average consensus price target of $103.04. Comerica Inc shares should first meet resistance at the 50-day moving average (MA) of $69.91 and find additional resistance at the 200-day MA of $75.87.

SmarTrend recommended that its subscribers protect gains by selling shares of Comerica Inc on May 14th, 2019 by issuing a Downtrend alert when the shares were trading at $74.31. Since that call, shares of Comerica Inc have fallen 16.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows comerica inc

Ticker(s): CMA