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Us Bancorp Set to Possibly Rebound After Yesterday's Selloff of 1.61%

By James Quinn

Us Bancorp (NYSE:USB) traded in a range yesterday that spanned from a low of $58.67 to a high of $59.13. Yesterday, the shares fell 1.6%, which took the trading range below the 3-day low of $59.67 on volume of 1.9 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, Us Bancorp share prices have been bracketed by a low of $43.14 and a high of $60.51 and are now at $59.06, 37% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has risen 0.2%.

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

Keywords: rebounders us bancorp

Ticker(s): USB