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

By Nick Russo

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.

Bank Of America share prices have moved between a 52-week high of $31.49 and a 52-week low of $22.66 and are now trading 17% above that low price at $26.47 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has remained constant.

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