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Look for Shares of M&T Bank Corp to Potentially Pullback after Yesterday's 1.06% Rise

By David Diaz

M&T Bank Corp (NYSE:MTB) traded in a range yesterday that spanned from a low of $157.09 to a high of $158.74. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $158.32 on volume of 237,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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.

In the past 52 weeks, shares of M&T Bank Corp have traded between a low of $133.78 and a high of $179.96 and are now at $158.73, which is 19% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 1%.

Keywords: rebounders m&t bank corp

Ticker(s): MTB