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Watch for Bank Of America to Potentially Rebound After Falling 3.11% Yesterday

By David Diaz

Bank Of America (NYSE:BAC) traded in a range yesterday that spanned from a low of $23.33 to a high of $23.83. Yesterday, the shares fell 3.1%, which took the trading range below the 3-day low of $23.56 on volume of 52.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend is tracking the current trend status for Bank Of America and will alert subscribers who have BAC in their portfolio or watchlist when shares have changed trend direction.

In the past 52 weeks, Bank Of America share prices have been bracketed by a low of $12.05 and a high of $25.80 and are now at $23.36, 94% above that low price. The 200-day and 50-day moving averages have moved 0.48% lower and 1.23% higher over the past week, respectively.

Keywords: rebounders Bank of america

Ticker(s): BAC