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Benzinga

Business

Melanie Schaffer

Here's The Bull, Bear Case For Bank Of America Stock

Bank of America Bank of America Corporation NYSE

Bank of America Corporation (NYSE:BAC) was trading slightly lower on Monday after a bullish day on Friday saw the stock rally 3.39%.

Bank of America has been trading mostly sideways for the past eight trading days, in consolidation after plunging almost 17% lower between June 1 and June 14. The horizontal action has settled the stock into a symmetrical triangle pattern on the daily chart, which has both a bull and a bear case for future direction.

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One subscription that gives you access to news from hundreds of sites

Already a member? Sign in here

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