Bank of America Corporation (BAC) “On a long-term technical basis, the stock (BAC) is trading above its 200-day moving average which implies it is in a positive trend. However, the stock has broken through an important trendline at 33.12 suggesting the next level of support is 32.55. The long-term uptrend has now turned neutral.

The stock has support at 32.55 and 30.82. If the stock breaks down through support at 32.55 then it will probably continue lower to 30.82. The stock will meet resistance at 33.12 and 35.45. If the stock breaks up through resistance at 33.12 then it will probably continue higher to 35.45. The 200-day moving average is at 30.79. This will also act as support. If the stock closes below 31.49 a negative trend change is probable. Look for the stock to fall to the 200-day moving average at 30.79. The stock is neutral according to the Stochastic Indicator (61.24).”