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State St Corp Rises 3.04% on Heavy Volume: Watch For Potential Pullback

By David Diaz

State St Corp (NYSE:STT) traded in a range yesterday that spanned from a low of $55.02 to a high of $56.26. Yesterday, the shares gained 3.0%, which took the trading range above the 3-day high of $55.48 on volume of 1.9 million 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, State St Corp share prices have been bracketed by a low of $53.53 and a high of $95.68 and are now at $56.20, 5% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.2% while the 200-day MA has slid 0.7%.

SmarTrend recommended that its subscribers protect gains by selling shares of State St Corp on April 24th, 2019 by issuing a Downtrend alert when the shares were trading at $66.24. Since that call, shares of State St Corp have fallen 17.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders state st corp

Ticker(s): STT