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After Yesterday's Decline of 4.70%, Bank Of America Offers Investors Better Value

By James Quinn

Bank Of America (NYSE:BAC) traded in a range yesterday that spanned from a low of $23.18 to a high of $23.46. Yesterday, the shares fell 4.7%, which took the trading range below the 3-day low of $23.85 on volume of 25.2 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, shares of Bank Of America have traded between a low of $17.95 and a high of $35.72 and are now at $22.84, which is 27% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 3.4%.

Keywords: rebounders Bank of america

Ticker(s): BAC