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Look for Shares of Comerica Inc to Potentially Rebound after Yesterday's 1.52% Sell Off

By Shiri Gupta

Comerica Inc (NYSE:CMA) traded in a range yesterday that spanned from a low of $97.65 to a high of $99.82. Yesterday, the shares fell 1.5%, which took the trading range below the 3-day low of $98.90 on volume of 356,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Comerica Inc have traded between a low of $36.82 and a high of $102.66 and are now at $97.78, which is 166% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 1.8%.

SmarTrend recommended that subscribers consider buying shares of Comerica Inc on November 20th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $79.66. Since that recommendation, shares of Comerica Inc have risen 24.8%. We continue to monitor CMA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders comerica inc

Ticker(s): CMA