Bank Of America Corp (BAC) Makes Big Move Relative to Two Week Trend, Down 1.38%; Crosses 20 Day Moving Average

Bank Of America Corp Daily Price Recap

25.66 was the closing price of the day for Bank Of America Corp, resulting in today being one in which price moved down 1.38% ($0.36) from the previous day. The price move occurred on stronger volume; specifically, yesterday’s volume was up 50.35% from the day prior, and up 50.28% from the same day the week before. Here is a daily price chart of Bank Of America Corp.


Bank Of America Corp Technical Analysis

First things first: Bank Of America Corp crossed below its 20 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For another vantage point, consider that Bank Of America Corp’s price has gone up 16 of the previous 30 trading days.

Overheard Around the Web

Here’s what one trader on StockTwits recently had to say in regards to BAC:

    Bank Of America: Rotation Play

    $XLF $BAC The key investor takeaway is that BoA is a prime target for sector rotation out of tech stocks. The large bank survived the worst of the virus crisis and the numbers should only get better going forward. As the bank returns to large capital returns, the stock will get another big boost. Use the current weakness to own the stock.