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After Yesterday's Rally of 1.06% Shares Could Potentially Pullback

By David Diaz

M&T Bank (NYSE:MTB) traded in a range yesterday that spanned from a low of $158.42 to a high of $160.61. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $158.95 on volume of 235,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend is tracking the current trend status for M&T Bank and will alert subscribers who have MTB in their portfolio or watchlist when shares have changed trend direction.

In the past 52 weeks, shares of M&T Bank have traded between a low of $100.07 and a high of $173.72 and are now at $160.53, which is 60% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has slid 0.3%.

Keywords: rebounders m&t bank

Ticker(s): MTB