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After Yesterday's Rally of 4.06% Shares Could Potentially Pullback

By David Diaz

M&T Bank Corp (NYSE:MTB) traded in a range yesterday that spanned from a low of $158.41 to a high of $164.90. Yesterday, the shares gained 4.1%, which took the trading range above the 3-day high of $164.72 on volume of 617,000 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, M&T Bank Corp share prices have been bracketed by a low of $141.50 and a high of $176.11 and are now at $164.55, 16% above that low price. The 200-day and 50-day moving averages have moved 0.01% lower and 0.12% lower over the past week, respectively.

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.

Keywords: rebounders m&t bank corp

Ticker(s): MTB