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Look for Shares of M&T Bank Corp to Potentially Rebound after Yesterday's 4.07% Sell Off

By David Diaz

M&T Bank Corp (NYSE:MTB) traded in a range yesterday that spanned from a low of $103.53 to a high of $105.58. Yesterday, the shares fell 4.1%, which took the trading range below the 3-day low of $105.68 on volume of 441,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, M&T Bank Corp has traded in a range of $87.64 to $174.93 and is now at $101.88, 16% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 4.7% while the 200-day MA has slid 1%.

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