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Look for Shares of M&T Bank Corp to Potentially Pullback after Yesterday's 3.49% Rise

By Shiri Gupta

M&T Bank Corp (NYSE:MTB) traded in a range yesterday that spanned from a low of $100.84 to a high of $109.39. Yesterday, the shares gained 3.5%, which took the trading range above the 3-day high of $105.81 on volume of 495,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

M&T Bank Corp share prices have moved between a 52-week high of $174.93 and a 52-week low of $87.64 and are now trading 26% above that low price at $110.22 per share. The 200-day and 50-day moving averages have moved 1.05% lower and 4.93% lower over the past week, respectively.

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

Keywords: rebounders m&t bank corp

Ticker(s): MTB