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Watch for Suntrust Banks to Potentially Pullback After Gaining 1.03% Yesterday

By Shiri Gupta

Suntrust Banks (NYSE:STI) traded in a range yesterday that spanned from a low of $66.33 to a high of $68.06. Yesterday, the shares gained 1.0%, which took the trading range above the 3-day high of $67.28 on volume of 642,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Suntrust Banks has traded in a range of $46.05 to $74.63 and is now at $67.88, 47% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

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

Keywords: rebounders suntrust banks

Ticker(s): STI