BofA (BAC) Shares Push Below $8 for First Time Since Mid March
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Price: $13.43 +0.52%
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 0.3%
EPS Growth %: -35.5%
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 0.3%
EPS Growth %: -35.5%
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Shares of BofA (NYSE: BAC) pushed below technical support at $8 just ahead of the noon hour Thursday. The stock is currently down more than 2.3 percent.
This morning's move follows a 1.8 percent decline on Wednesday. Although the stock price pushed above resistance at $8.20 several times, shares closed the session under this level.
The stock opened this morning's session very modestly higher, however worse-than-expected ISM non-manufacturing data for the month of April had traders selling stocks, pushing BofA shares below $8.10 and subsequently below $8. This level has previously served as a significant battleground for bulls and bears.
The last time BofA shares traded under $8 was March 12th.
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This morning's move follows a 1.8 percent decline on Wednesday. Although the stock price pushed above resistance at $8.20 several times, shares closed the session under this level.
The stock opened this morning's session very modestly higher, however worse-than-expected ISM non-manufacturing data for the month of April had traders selling stocks, pushing BofA shares below $8.10 and subsequently below $8. This level has previously served as a significant battleground for bulls and bears.
The last time BofA shares traded under $8 was March 12th.
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