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Bank Of America Set to Possibly Rebound After Yesterday's Selloff of 1.81%

By David Diaz

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.

Over the past year, Bank Of America has traded in a range of $25.61 to $35.72 and is now at $34.52, 35% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.6%.

Keywords: rebounders Bank of america

Ticker(s): BAC