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After Yesterday's Decline of 2.32%, Suntrust Banks Offers Investors Better Value

By Amy Schwartz

Suntrust Banks (NYSE:STI) traded in a range yesterday that spanned from a low of $61.95 to a high of $64.50. Yesterday, the shares fell 2.3%, which took the trading range below the 3-day low of $63.36 on volume of 3.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Suntrust Banks share prices have been bracketed by a low of $56.30 and a high of $75.08 and are now at $62.02, 10% above that low price. The 200-day and 50-day moving averages have moved 0% lower and 0.77% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Suntrust Banks on September 13th, 2018 by issuing a Downtrend alert when the shares were trading at $69.31. Since that call, shares of Suntrust Banks have fallen 8.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders suntrust banks

Ticker(s): STI