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M&T Bank Corp Set to Possibly Rebound After Yesterday's Selloff of 4.74%

By David Diaz

M&T Bank Corp (NYSE:MTB) traded in a range yesterday that spanned from a low of $99.12 to a high of $102.90. Yesterday, the shares fell 4.7%, which took the trading range below the 3-day low of $99.41 on volume of 211,000 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 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.

In the past 52 weeks, M&T Bank Corp share prices have been bracketed by a low of $87.64 and a high of $174.93 and are now at $99.90, 14% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 1% while the 50-day MA has declined 4.8%.

Keywords: rebounders m&t bank corp

Ticker(s): MTB