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M&T Bank Corp Rises 2.00% on Heavy Volume: Watch For Potential Pullback

By Nick Russo

M&T Bank Corp (NYSE:MTB) traded in a range yesterday that spanned from a low of $153.13 to a high of $155.64. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $155.45 on volume of 132,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of M&T Bank Corp have traded between a low of $133.78 and a high of $176.11 and are now at $155.47, which is 16% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.5%.

SmarTrend is tracking the current trend status for M&T Bank Corp and will alert subscribers who have MTB in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders m&t bank corp

Ticker(s): MTB