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State Street Set to Possibly Pullback After Yesterday's Rally of 1.52%

By Shiri Gupta

State Street (NYSE:STT) traded in a range yesterday that spanned from a low of $88.49 to a high of $89.72. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $89.26 on volume of 598,000 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 State Street have traded between a low of $50.60 and a high of $89.72 and are now at $89.49, which is 77% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has advanced 0.7%.

SmarTrend recommended that subscribers consider buying shares of State Street 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 Street have risen 9.6%. We continue to monitor STT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders State Street

Ticker(s): STT