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Look for Shares of Suntrust Banks to Potentially Rebound after Yesterday's 2.32% Sell Off

By David Diaz

Suntrust Banks (NYSE:STI) traded in a range yesterday that spanned from a low of $61.95 to a high of $64.50. Yesterday, the shares fell 2.3%, which took the trading range below the 3-day low of $63.36 on volume of 3.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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 8.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Over the past year, Suntrust Banks has traded in a range of $56.30 to $75.08 and is now at $62.02, 10% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.8% while the 200-day MA has remained constant.

Keywords: rebounders suntrust banks

Ticker(s): STI