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After Yesterday's Rally of 1.74% Shares Could Potentially Pullback

By Nick Russo

M&T Bank Corp (NYSE:MTB) traded in a range yesterday that spanned from a low of $160.44 to a high of $163.83. Yesterday, the shares gained 1.7%, which took the trading range above the 3-day high of $161.97 on volume of 243,000 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 monitoring the recent change of momentum in M&T Bank Corp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of M&T Bank Corp in search of a potential trend change.

Over the past year, M&T Bank Corp has traded in a range of $108.04 to $173.72 and is now at $163.41, 51% above that low. The 200-day and 50-day moving averages have moved 0.26% lower and 0.66% higher over the past week, respectively.

Keywords: rebounders m&t bank corp

Ticker(s): MTB