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After Yesterday's Rally of 2.44% Shares Could Potentially Pullback

By James Quinn

Bank Of America (NYSE:BAC) traded in a range yesterday that spanned from a low of $30.17 to a high of $30.64. Yesterday, the shares gained 2.4%, which took the trading range above the 3-day high of $30.63 on volume of 24.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Bank Of America have traded between a low of $12.05 and a high of $33.05 and are now at $30.58, which is 154% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.2% while the 200-day MA has slid 0.5%.

SmarTrend is tracking the current trend status for Bank Of America and will alert subscribers who have BAC in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders Bank of america

Ticker(s): BAC