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Us Bancorp Set to Possibly Rebound After Yesterday's Selloff of 2.57%

By James Quinn

Us Bancorp (NYSE:USB) traded in a range yesterday that spanned from a low of $51.38 to a high of $52.13. Yesterday, the shares fell 2.6%, which took the trading range below the 3-day low of $51.98 on volume of 3.0 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 $57.81 and are now at $51.39, 19% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.2%.

SmarTrend is monitoring the recent change of momentum in Us Bancorp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Us Bancorp in search of a potential trend change.

Keywords: rebounders us bancorp

Ticker(s): USB