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Watch for State St Corp to Potentially Rebound After Falling 1.31% Yesterday

By David Diaz

State St Corp (NYSE:STT) traded in a range yesterday that spanned from a low of $80.01 to a high of $81.66. Yesterday, the shares fell 1.3%, which took the trading range below the 3-day low of $80.41 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 State St Corp have traded between a low of $48.62 and a high of $82.94 and are now at $80.14, which is 65% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 1.2%.

SmarTrend recommended that subscribers consider buying shares of State St Corp on October 18th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $61.18. Since that recommendation, shares of State St Corp have risen 32.7%. We continue to monitor STT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders state st corp

Ticker(s): STT