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Look for Shares of Bank Of America to Potentially Pullback after Yesterday's 2.45% Rise

By James Quinn

Bank Of America (NYSE:BAC) traded in a range yesterday that spanned from a low of $23.33 to a high of $23.55. Yesterday, the shares gained 2.5%, which took the trading range above the 3-day high of $23.51 on volume of 22.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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 $23.39, which is 30% above that low price. The 200-day and 50-day moving averages have moved 0.47% lower and 3.22% lower over the past week, respectively.

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: rebounders Bank of america

Ticker(s): BAC