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After Yesterday's Rally of 2.00% Shares Could Potentially Pullback

By David Diaz

M&T Bank Corp (NYSE:MTB) traded in a range yesterday that spanned from a low of $153.13 to a high of $155.64. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $155.45 on volume of 132,000 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, M&T Bank Corp has traded in a range of $133.78 to $176.11 and is now at $155.47, 16% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.5% while the 200-day MA has remained constant.

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

Keywords: rebounders m&t bank corp

Ticker(s): MTB