over done on the upside...
55-56 is big resistance and goes all the way back to Oct 2009 levels. RSI 80 on a daily & weekly basis. I see a pull back at least to the $50-$51 level in the next week or so.
Put the same trade back on, but with a better cost basis.
55.88 was tested again and failed. Must at least move to 54 as the broader market is poised to correct.
But something other than cutting a few hundred jobs and an analyst upgrade to neutral has set off the stock. We are up over 20% since Xmas. What's out there that we don't know?
Took my 40% gain today. STT might rally if congress kicks the debt-ceiling debate can down the road.
Still moving up or holding gains on an upgrade.
My guess is institutions are slowly dumping it to retail via mutual funds. A close below 55.95 will pave the way to another 4%-7% correction.