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Look for Shares of Suntrust Banks to Potentially Pullback after Yesterday's 1.37% Rise

By David Diaz

Suntrust Banks (NYSE:STI) traded in a range yesterday that spanned from a low of $62.60 to a high of $63.78. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $63.16 on volume of 1.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that its subscribers protect gains by selling shares of Suntrust Banks on September 13th, 2018 by issuing a Downtrend alert when the shares were trading at $69.31. Since that call, shares of Suntrust Banks have fallen 9.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Suntrust Banks share prices have moved between a 52-week high of $75.08 and a 52-week low of $56.30 and are now trading 13% above that low price at $63.75 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 1% while the 200-day MA has slid 0.2%.

Keywords: rebounders suntrust banks

Ticker(s): STI