Bank of America dominated by downward correctional trend - Analysis - 13-06-2022

Bank of America's stock (BAC) fell and pierced the important support of 34.26, marking a loss of 3.88% in the last session, or 1.34 points, and settling at 33.17 points, with trading volumes surpassing 49.3 million shares, above 10-day averages of 41.2 million shares.

The decline comes amid the dominance of the downward correctional short-term trend,  with negative pressure from the 50-day SMA, coupled with negative signals from the RSI.

Therefore we expect more losses for the stock, targeting the support of 30.60, provided it settles below 34.26. 

Expected trend for today: Bearish