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After Yesterday's Decline of 1.81%, Bank Of America Offers Investors Better Value

By Shiri Gupta

Bank Of America (NYSE:BAC) traded in a range yesterday that spanned from a low of $34.34 to a high of $34.79. Yesterday, the shares fell 1.8%, which took the trading range below the 3-day low of $34.66 on volume of 32.5 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that subscribers consider buying shares of Bank Of America on October 16th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $30.52. Since that recommendation, shares of Bank Of America have risen 15.7%. We continue to monitor BAC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Bank Of America share prices have moved between a 52-week high of $35.72 and a 52-week low of $25.61 and are now trading 35% above that low price at $34.52 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 0.4%.

Keywords: rebounders Bank of america

Ticker(s): BAC