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

By Shiri Gupta

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.

Over the past year, M&T Bank has traded in a range of $100.07 to $173.72 and is now at $160.53, 60% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.7%.

Keywords: rebounders m&t bank

Ticker(s): MTB