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After Yesterday's Decline of 1.03%, Suntrust Banks Offers Investors Better Value

By Nick Russo

Suntrust Banks (NYSE:STI) traded in a range yesterday that spanned from a low of $71.65 to a high of $72.19. Yesterday, the shares fell 1.0%, which took the trading range below the 3-day low of $72.16 on volume of 724,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Suntrust Banks has traded in a range of $51.96 to $73.44 and is now at $72.00, 39% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.5%.

SmarTrend recommended that subscribers consider buying shares of Suntrust Banks on July 9th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $68.60. Since that recommendation, shares of Suntrust Banks have risen 6.1%. We continue to monitor STI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders suntrust banks

Ticker(s): STI