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Look for Shares of Bank Of America to Potentially Rebound after Yesterday's 2.24% Sell Off

By David Diaz

Bank Of America (NYSE:BAC) traded in a range yesterday that spanned from a low of $32.62 to a high of $32.88. Yesterday, the shares fell 2.2%, which took the trading range below the 3-day low of $33.24 on volume of 4.2 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Bank Of America have traded between a low of $22.66 and a high of $33.75 and are now at $32.68, which is 44% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 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