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M&T Bank Corp Rises 1.41% on Heavy Volume: Watch For Potential Pullback

By James Quinn

M&T Bank Corp (NYSE:MTB) traded in a range yesterday that spanned from a low of $164.33 to a high of $167.87. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $165.76 on volume of 134,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, M&T Bank Corp has traded in a range of $154.33 to $197.37 and is now at $167.61, 9% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.4% while the 200-day MA has slid 0.2%.

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

Keywords: rebounders m&t bank corp

Ticker(s): MTB