The market value of $BAC worsened in September reaching 25.99 from 30.12. Price rallied majorly between 29.41 and 31.99 throughout this year. $BAC has maintained stability in market price for the most part of 2018. After a fall in price in September, price reached a new low since mid-November 2017. Price movement this year reached 33.05 in March making it the highest price point of $BAC reached since the financial crisis in 2008. Investors might have been undergoing discomfort during the times the market was in a range. In July, price gave a signal of a future downtrend which later occurred in September with over 400 points.
More investors bought shares of $BofA after a new support level was reached in October. Over 100 points was gathered last week when buyers resumed. The RSI on the daily chart shows price has been oversold. If more buyers come on board, price might reach a new resistance at 29.41. Eventually, if price goes up and moves beyond the first resistance level, price might reach 31.00. Though price movement is in the lower region of the band, it could continue higher if price closes above the upper region of the band, it could continue the bullish movement.