Bank of America Corp (NYSE:BAC) has been on a remarkable journey, experiencing a robust rally in its stock price since October 2023. The bank’s latest quarterly earnings report for Q1 2024 surpassed Wall Street expectations,

Shares of Bank of America (NYSE: BAC) have done quite well recently. As of this writing, they have soared 30% just in the past six months (as of May 21), a gain that outpaces the S&P 500. Perhaps investors remain optimistic that interest rates will decline sooner rather than later,

That’s according to a team of strategists at Bank of America led by Michael Hartnett who say there has been a shift toward the bank’s so-called global breadth rule. That guideline stipulates that a contrarian sell signal is triggered when a net 88% of equity indexes in the MSCI All Country World Index ACWI,