Bank of America Corp BAC shares are trading higher by a dome at $12.80 in Monday's session. Buffett reserves the right to buy 700 million shares of the issue before September 2021, in addition to his current stake.
It has been a rough year for this, along with many other financial stocks. After flirting with $18 level in December, peaking at $17.89, it swooned nearly 40 percent or $6.9 when to bottomed on February 11 at $10.99.
If the rally continues through the intraday high ($12.86), there may be additional resistance at Friday's high ($12.95).
Bank of America has not closed above $13, since February 4 when it ended the session at $13.25.
At the time of this publication, the issue was trading up 0.59 percent on the day at $12.77.
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