"Since the range is $22 to $583 per share and nothing showes that it's over bought..."
Wow! Someone who thinks C will go back to $500?
First C was never in the $500's. That's the price it would have been relative to today's price if it had 3 billion outstanding shares back then. But, back then the outstanding share count was 500 million. (After the reverse split it was actually 2.9 billion. They've added another 20% of the original 2007outstanding shares in just the last couple of years. 3% of the market cap, via dilution in the share price by printing shares, goes for salaries and bonuses. That's salary and bonus expenses not listed on the income statement.)
If C went to $500, the market cap would be $500 x 3 billion or $1.5 trillion. The market caps of Exxon and Apple are about $400 billion. The market cap of JPM is $180 billion but then.....
JPM who earns $5.20/shr and pays a $1.20/shr dividend has a PE ratio under 10.
C who earns $2.44/shr and pays a $0.04/shr dividend has a PE ratio twice that of JPM's at just under 20.
BAC;s numbers are worse than C's.
Based on JPM's numbers, C's stock price is double what it should be... it screams it's overbought.
If there were ever a stock to short in the financial sector, BAC and C would be the ones.