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Look for Shares of Bank Of America to Potentially Rebound after Yesterday's 4.47% Sell Off

By Amy Schwartz

Bank Of America (NYSE:BAC) traded in a range yesterday that spanned from a low of $26.47 to a high of $27.02. Yesterday, the shares fell 4.5%, which took the trading range below the 3-day low of $27.46 on volume of 52.0 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Bank Of America has traded in a range of $22.66 to $31.49 and is now at $26.47, 17% above that low. The 200-day and 50-day moving averages have moved 0.06% higher and 0.23% higher over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in Bank Of America. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Bank Of America in search of a potential trend change.

Keywords: rebounders Bank of america

Ticker(s): BAC