Bank Of America Corp BAC shares are trading higher by $0.13 at $22.74 in Wednesday's session. The issue, which reached an eight-year on Monday at $23.25, has backed off that high, but continues to be resilient after brief intra-day selloffs.
After a lower open, it found support just under Tuesday's low ($22.29) at $22.21 and began to rebound. So far, the ensuing rally has taken the issue to just past its closing price from Monday and Tuesday ($22.61) to $22.78.
If the rally continues, there may be additional resistance at Tuesday's high of $22.88. The highest close for the recent rally was made on December 9 at $23.09.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.