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Look for Shares of Suntrust Banks to Potentially Rebound after Yesterday's 1.03% Sell Off

By James Quinn

Suntrust Banks (NYSE:STI) traded in a range yesterday that spanned from a low of $71.65 to a high of $72.19. Yesterday, the shares fell 1.0%, which took the trading range below the 3-day low of $72.16 on volume of 724,000 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 Suntrust Banks have traded between a low of $51.96 and a high of $73.44 and are now at $72.00, which is 39% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has risen 0.4%.

SmarTrend recommended that subscribers consider buying shares of Suntrust Banks on July 9th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $68.60. Since that recommendation, shares of Suntrust Banks have risen 6.1%. We continue to monitor STI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders suntrust banks

Ticker(s): STI