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Look for Shares of M&T Bank Corp to Potentially Rebound after Yesterday's 1.76% Sell Off

By Shiri Gupta

M&T Bank Corp (NYSE:MTB) traded in a range yesterday that spanned from a low of $179.87 to a high of $186.68. Yesterday, the shares fell 1.8%, which took the trading range below the 3-day low of $182.16 on volume of 643,000 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 M&T Bank Corp have traded between a low of $108.04 and a high of $197.37 and are now at $180.85, which is 67% 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 0.7%.

SmarTrend is tracking the current trend status for M&T Bank Corp and will alert subscribers who have MTB in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders m&t bank corp

Ticker(s): MTB