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State Street: The Winning Streak Continues (STT)

By David Diaz

State Street (NYSE:STT) traded today at a new 52-week high of $86.91. Approximately 190,000 shares have changed hands today, as compared to an average 30-day volume of 2.5 million shares.

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) defies analysts with a current price ($86.79) 1.1% above its average consensus price target of $85.85. The stock should discover initial support at its 200-day moving average (MA) of $65.43 and subsequent support at its 50-day MA of $58.89.

In the past 52 weeks, State Street share prices have been bracketed by a low of $50.60 and a high of $86.91 and are now at $86.79, 72% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has slid 0.6%.

SmarTrend recommended that subscribers consider buying shares of State Street on February 14th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $80.54. Since that recommendation, shares of State Street have risen 6.8%. 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