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SmarTrend Watching for Potential Rebound in Shares of Bank Of America After 1.82% Loss

By Nick Russo

Bank Of America (NYSE:BAC) traded in a range yesterday that spanned from a low of $22.28 to a high of $22.82. Yesterday, the shares fell 1.8%, which took the trading range below the 3-day low of $22.57 on volume of 21.9 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.

Over the past year, Bank Of America has traded in a range of $17.95 to $35.72 and is now at $22.17, 24% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 1.6%.

Keywords: rebounders Bank of america

Ticker(s): BAC