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Watch for Bank Of America to Potentially Pullback After Gaining 1.99% Yesterday

By Shiri Gupta

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.

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.

In the past 52 weeks, shares of Bank Of America have traded between a low of $22.66 and a high of $31.37 and are now at $30.25, which is 33% above that low price. The 200-day and 50-day moving averages have moved 0% lower and 0.09% lower over the past week, respectively.

Keywords: rebounders Bank of america

Ticker(s): BAC