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SmarTrend Watching for Potential Rebound in Shares of Sterling Bancorp After 4.24% Loss

By Shiri Gupta

Sterling Bancorp (NYSE:STL) traded in a range yesterday that spanned from a low of $20.08 to a high of $21.38. Yesterday, the shares fell 4.2%, which took the trading range below the 3-day low of $20.97 on volume of 1.2 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Sterling Bancorp share prices have been bracketed by a current low of $20.16 and a high of $26.50 and are now at $20.20. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 0.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of Sterling Bancorp on June 27th, 2018 by issuing a Downtrend alert when the shares were trading at $23.83. Since that call, shares of Sterling Bancorp have fallen 11.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders sterling bancorp

Ticker(s): STL