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SunTrust Banks Crosses Above its 10-day MA (STI)

By David Diaz

Today, shares of SunTrust Banks (NYSE:STI) have crossed bullishly above their 10-day moving average of $40.93 on a volume of 748K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, shares of SunTrust Banks have traded between a low of $31.07 and a high of $45.84 and are now at $41.09, which is 32% above that low price. 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 recommended that subscribers consider buying shares of SunTrust Banks on March 2nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $35.53. Since that recommendation, shares of SunTrust Banks have risen 14.2%. We continue to monitor STI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses suntrust banks

Ticker(s): STI