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M&T Bank Corp Rises 3.49% on Heavy Volume: Watch For Potential Pullback

By Amy Schwartz

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.

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.

Over the past year, M&T Bank Corp has traded in a range of $87.64 to $174.93 and is now at $110.22, 26% above that low. Over the past week, the 200-day moving average (MA) has gone down 1% while the 50-day MA has declined 4.9%.

Keywords: rebounders m&t bank corp

Ticker(s): MTB