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Comerica Inc Set to Possibly Rebound After Yesterday's Selloff of 2.61%

By Shiri Gupta

Comerica Inc (NYSE:CMA) traded in a range yesterday that spanned from a low of $83.45 to a high of $86.95. Yesterday, the shares fell 2.6%, which took the trading range below the 3-day low of $85.72 on volume of 1.2 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Comerica Inc share prices have been bracketed by a low of $74.16 and a high of $102.66 and are now at $83.85, 13% above that low price. The 200-day and 50-day moving averages have moved 0.05% higher and 0.59% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Comerica Inc on September 13th, 2018 by issuing a Downtrend alert when the shares were trading at $93.69. Since that call, shares of Comerica Inc have fallen 8.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders comerica inc

Ticker(s): CMA