Bank of America retreats in volatile session - Analysis - 13-08-2018

Bank of America's stock fell in the intraday levels, ending a session marked with high volatility as traders collected profits while the stock attempted to garner momentum to help it rebound, as it also vents off overbought saturation in the RSI, marking thereafter a loss of 1.30% in the last session, or 0.41 points, as the stock gets buoyed by a positive pattern that formed in the short term, the Falling Wedge pattern, with positive support from the 50-day SMA. 

Therefore we expect the stock to return higher, especially if the resistance of 31.36 was confirmed to be breached, targeting the next pivotal one at 33.05.