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Watch for Continued Gains in Shares of Comerica (CMA)

By Amy Schwartz

Shares of Comerica (NYSE:CMA) traded at a new 52-week high today of $75.23. So far today approximately 210,000 shares have been exchanged, as compared to an average 30-day volume of 3.1 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's subsidiaries provide services such as corporate banking, international finance, treasury management, community banking, private banking, small business and individual lending, investment services, and institutional trust.

Over the past year, Comerica has traded in a range of $30.48 to $75.23 and is now at $74.95, 146% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 1.8%.

Comerica (NYSE:CMA) defies analysts with a current price ($74.95) 5.2% above its average consensus price target of $71.02. The stock should discover initial support at its 200-day moving average (MA) of $41.20 and subsequent support at its 50-day MA of $39.22.

SmarTrend recommended that subscribers consider buying shares of Comerica on April 24th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $70.82. Since that recommendation, shares of Comerica have risen 4.7%. We continue to monitor CMA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows Comerica

Ticker(s): CMA