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Thet stock price of BANK OF AMERICA CORPORATION (BAC) today is at $33. According to technical analysis, the BAC stock price is still in a long-term downtrend. Based on the 1D chart, the price has decreased after recovering to $38.6. Traders may anticipate a dump down to a strong support level around $27.5.
Trading idea: Traders can open a short position at the current price, with a stop loss if the price closes above $36 and take profit at $27.5. Risk/reward ratio: 1.7.
