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After Yesterday's Rally of 1.98% Shares Could Potentially Pullback

By Nick Russo

BB&T (NYSE:BBT) traded in a range yesterday that spanned from a low of $43.62 to a high of $44.13. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $43.78 on volume of 2.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, BB&T share prices have been bracketed by a low of $29.95 and a high of $49.88 and are now at $43.77, 46% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 0.5%.

SmarTrend recommended that its subscribers protect gains by selling shares of BB&T on March 21st, 2017 by issuing a Downtrend alert when the shares were trading at $45.24. Since that call, shares of BB&T have fallen 5.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders BB&T

Ticker(s): BBT