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After Yesterday's Rally of 1.97% Shares Could Potentially Pullback

By David Diaz

State Street (NYSE:STT) traded in a range yesterday that spanned from a low of $87.84 to a high of $89.61. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $88.06 on volume of 1.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, State Street has traded in a range of $50.60 to $89.61 and is now at $88.98, 76% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has slid 0.6%.

SmarTrend recommended that subscribers consider buying shares of State Street on February 14th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $80.54. Since that recommendation, shares of State Street have risen 8.2%. We continue to monitor STT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders State Street

Ticker(s): STT