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SmarTrend Watching for Potential Pullback in Shares of Bank Of America After 1.99% Gain

By Amy Schwartz

Bank Of America (NYSE:BAC) traded in a range yesterday that spanned from a low of $29.94 to a high of $30.26. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $29.78 on volume of 42.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Bank Of America share prices have moved between a 52-week high of $31.37 and a 52-week low of $22.66 and are now trading 33% above that low price at $30.25 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-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