M&T Bank @ Year Highs

Published on Friday, 07 September 2012 12:34 Written by TradersHuddle Wire

New York, September 7th (TradersHuddle.com) - Shares of M&T Bank Corporation (NYSE:MTB) booked a new 52 week high today by trading above $90.5, traders are definitely monitoring M&T Bank's price action to see if this move attracts further buying into the stock.

M&T Bank Corporation (NYSE:MTB) is a bank holding company. The regional bank offers a variety of commercial banking, trust, and investment services to their customers. M&T Bank operates branch offices in New York, Maryland, Pennsylvania, Delaware, New Jersey, Virginia, West Virginia and the District of Columbia.

M&T Bank is currently trading 1.09% versus its previous trading session close, and it has calculated support and resistance at $76.92 and $90.50 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 higher by 0.25% from its previous trading close, which means that M&T Bank stock is outperforming the overall market.