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Look for Shares of State St Corp to Potentially Rebound after Yesterday's 1.48% Sell Off

By James Quinn

State St Corp (NYSE:STT) traded in a range yesterday that spanned from a low of $83.52 to a high of $84.83. Yesterday, the shares fell 1.5%, which took the trading range below the 3-day low of $85.67 on volume of 1.0 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

State St Corp share prices have moved between a 52-week high of $114.27 and the current low of $83.52 and are currently at $84.47 per share. The 200-day and 50-day moving averages have moved 0.23% lower and 1% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of State St Corp on May 29th, 2018 by issuing a Downtrend alert when the shares were trading at $96.80. Since that call, shares of State St Corp have fallen 11.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders state st corp

Ticker(s): STT