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Possible Bullish Inside Day Candle Pattern Detected for Bank Of America (NYSE:BAC)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Bank Of America (NYSE:BAC) based on the price action in the company's shares. Yesterday's price range of $34.41 and $34.59 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Bank Of America may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Bank Of America (NYSE:BAC) has potential upside of 0.0% based on a current price of $34.79 and analysts' consensus price target of $34.80. Bank Of America shares have support at the 50-day moving average (MA) of $34.49 and additional support at the 200-day MA of $30.73.

Bank Of America share prices have moved between a 52-week high of $35.72 and a 52-week low of $26.21 and closed yesterday at 33% above that low price at $34.79 per share. The 200-day and 50-day moving averages have moved 0.13% higher and 0.16% higher over the past week, respectively.

Bank of America Corporation accepts deposits and offers banking, investing, asset management, and other financial and risk-management products and services. The Company has a mortgage lending subsidiary, and an investment banking and securities brokerage subsidiary.

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.

Keywords: bullish am inside day candle Bank of america

Ticker(s): BAC