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State St Corp Set to Possibly Rebound After Yesterday's Selloff of 1.24%

By David Diaz

State St Corp (NYSE:STT) traded in a range yesterday that spanned from a low of $92.02 to a high of $93.38. Yesterday, the shares fell 1.2%, which took the trading range below the 3-day low of $92.07 on volume of 869,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that subscribers consider buying shares of State St Corp on February 14th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $80.54. Since that recommendation, shares of State St Corp have risen 15.7%. We continue to monitor STT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Over the past year, State St Corp has traded in a range of $50.59 to $96.26 and is now at $92.26, 82% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has slid 0.6%.

Keywords: rebounders state st corp

Ticker(s): STT