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Watch for Bank Of America to Potentially Rebound After Falling 3.93% Yesterday

By Shiri Gupta

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.

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 the current low of $25.67 and a high of $33.05 and are now at $25.93. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.6%.

Keywords: rebounders Bank of america

Ticker(s): BAC