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After Yesterday's Rally of 2.65% Shares Could Potentially Pullback

By David Diaz

BB&T (NYSE:BBT) traded in a range yesterday that spanned from a low of $33.58 to a high of $34.65. Yesterday, the shares gained 2.6%, which took the trading range above the 3-day high of $33.98 on volume of 3.4 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, BB&T has traded in a range of $29.95 to $41.90 and is now at $34.50, 15% above that low. 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 is monitoring the recent change of momentum in BB&T. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of BB&T in search of a potential trend change.

Keywords: rebounders BB&T

Ticker(s): BBT