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SmarTrend Watching for Potential Rebound in Shares of Signature Bank After 2.57% Loss

By Shiri Gupta

Signature Bank (NASDAQ:SBNY) traded in a range yesterday that spanned from a low of $123.10 to a high of $129.30. Yesterday, the shares fell 2.6%, which took the trading range below the 3-day low of $128.13 on volume of 450,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend is tracking the current trend status for Signature Bank and will alert subscribers who have SBNY in their portfolio or watchlist when shares have changed trend direction.

In the past 52 weeks, shares of Signature Bank have traded between a low of $116.68 and a high of $161.92 and are now at $124.15, which is 6% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

Keywords: rebounders signature bank

Ticker(s): SBNY