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SmarTrend Watching for Potential Rebound in Shares of Us Bancorp After 3.45% Loss

By Nick Russo

Us Bancorp (NYSE:USB) traded in a range yesterday that spanned from a low of $32.50 to a high of $33.53. Yesterday, the shares fell 3.4%, which took the trading range below the 3-day low of $33.03 on volume of 2.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Us Bancorp have traded between a low of $28.59 and a high of $61.11 and are now at $32.20, which is 13% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.3% while the 200-day MA has slid 0.7%.

SmarTrend is tracking the current trend status for Us Bancorp and will alert subscribers who have USB in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders us bancorp

Ticker(s): USB