SunTrust Banks @ Year Highs
Published on Friday, 17 August 2012 12:34 Written by TradersHuddle Wire
New York, August 17th (TradersHuddle.com) - Shares of SunTrust Banks, Inc. (NYSE:STI) booked a new 52 week high today by trading above $25.3, traders are definitely monitoring SunTrust's price action to see if this move attracts further buying into the stock.
SunTrust Banks, Inc. (NYSE:STI) is a super-regional bank holding company. The Company's subsidiary banks operate in Florida, Georgia, Maryland, North Carolina, South Carolina, Tennessee, Virginia, and the District of Columbia. SunTrust provides a wide range of financial services.
SunTrust Banks is currently trading 0.4% versus its previous trading session close, and it has calculated support and resistance at $22.34 and $24.78 respectively. Clearly, with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range.
The overall market index S&P 500 is trading flat by 0% from its previous trading close, which means that SunTrust Banks stock is outperforming the overall market.
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