MTB approaching channel support

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M&T Bank Corp. (MTB) presently approaching channel support, able to absorb weekly selling pressures.

From here, (MTB) can gain strength and trade higher eliciting gains of ~20% over the following 2 - 3 months.

If a weekly settlement above the overhead channel occurs, this would lead to a long-term buy signal in (MTB) into later year.

Inversely, closing below channel support puts (MTB) into a sell signal where losses of 20% would be anticipated over the same time horizon.

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