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Watch for Bank Of America to Potentially Rebound After Falling 4.70% Yesterday

By David Diaz

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.

Over the past year, Bank Of America has traded in a range of $17.95 to $35.72 and is now at $22.84, 27% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 3.4% while the 200-day MA has slid 0.4%.

Keywords: rebounders Bank of america

Ticker(s): BAC