Bank of America Corporation (BAC) stock price continued to decline in its latest intraday trading, amid the dominance of a short-term corrective bearish trend, as the stock moved below the support of its 50-day SMA with this latest decline, which increases the surrounding negative pressure on the stock, especially with continued negative signals from the Stochastic indicators despite reaching deeply oversold levels.

Therefore we expect the stock price to decline in its upcoming trading, especially as long as it remains below the $51.40 resistance level, targeting the first support level at $48.55.

Todays price forecast: Bearish