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SmarTrend Watching for Potential Rebound in Shares of Bank Of America After 3.93% Loss

By David Diaz

Bank Of America (NYSE:BAC) traded in a range yesterday that spanned from a low of $25.67 to a high of $26.32. Yesterday, the shares fell 3.9%, which took the trading range below the 3-day low of $26.73 on volume of 22.7 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 $33.05 and the current low of $25.67 and are currently at $25.93 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.6%.

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