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Watch for Suntrust Banks to Potentially Pullback After Gaining 1.37% Yesterday

By James Quinn

Suntrust Banks (NYSE:STI) traded in a range yesterday that spanned from a low of $62.60 to a high of $63.78. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $63.16 on volume of 1.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that its subscribers protect gains by selling shares of Suntrust Banks on September 13th, 2018 by issuing a Downtrend alert when the shares were trading at $69.31. Since that call, shares of Suntrust Banks have fallen 9.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, shares of Suntrust Banks have traded between a low of $56.30 and a high of $75.08 and are now at $63.75, which is 13% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1% while the 200-day MA has slid 0.2%.

Keywords: rebounders suntrust banks

Ticker(s): STI