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After Yesterday's Decline of 1.63%, M&T Bank Corp Offers Investors Better Value

By David Diaz

M&T Bank Corp (NYSE:MTB) traded in a range yesterday that spanned from a low of $164.01 to a high of $165.99. Yesterday, the shares fell 1.6%, which took the trading range below the 3-day low of $164.79 on volume of 151,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of M&T Bank Corp have traded between a low of $141.50 and a high of $176.11 and are now at $164.70, which is 16% above that low price. The 200-day and 50-day moving averages have moved 0.09% higher and 0.32% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of M&T Bank Corp on October 16th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $159.35. Since that recommendation, shares of M&T Bank Corp have risen 4.5%. We continue to monitor MTB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders m&t bank corp

Ticker(s): MTB