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Look for Shares of Suntrust Banks to Potentially Rebound after Yesterday's 2.47% Sell Off

By Shiri Gupta

Suntrust Banks (NYSE:STI) traded in a range yesterday that spanned from a low of $54.11 to a high of $55.09. Yesterday, the shares fell 2.5%, which took the trading range below the 3-day low of $55.03 on volume of 950,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Suntrust Banks share prices have moved between a 52-week high of $61.69 and a 52-week low of $37.71 and are now trading 44% above that low price at $54.15 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.5% while the 200-day MA has slid 0.2%.

SmarTrend is monitoring the recent change of momentum in Suntrust Banks. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Suntrust Banks in search of a potential trend change.

Keywords: rebounders suntrust banks

Ticker(s): STI