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Watch for Suntrust Banks to Potentially Rebound After Falling 2.47% Yesterday

By David Diaz

Suntrust Banks (NYSE:STI) traded in a range yesterday that spanned from a low of $54.11 to a high of $55.09. Yesterday, the shares fell 2.5%, which took the trading range below the 3-day low of $55.03 on volume of 950,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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.

Over the past year, Suntrust Banks has traded in a range of $37.71 to $61.69 and is now at $54.15, 44% above that low. The 200-day and 50-day moving averages have moved 0.19% lower and 1.53% higher over the past week, respectively.

Keywords: rebounders suntrust banks

Ticker(s): STI