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SmarTrend Watching for Potential Rebound in Shares of M&T Bank Corp After 4.07% Loss

By James Quinn

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.

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 $101.88, 16% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 1% while the 50-day MA has declined 4.7%.

Keywords: rebounders m&t bank corp

Ticker(s): MTB