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Bank of America Corporation (BAC) “On a long-term technical basis, the stock (BAC) is trading below its 200-day moving average which implies it is in a negative trend. The stock has broken down through support at 24.08, so look for new support at 21.33.
The stock has support at 22.95 and 21.33. If the stock breaks down through support at 22.95 then it will probably continue lower to 21.33. The stock has resistance at 24.08 and at 26.06. If the stock breaks up through resistance at 24.08 then it will probably continue higher to 26.06. The 200-day moving average is at 29.88. This will also act as resistance. The stock is slightly overbought according to the Stochastic Indicator (66.12).”
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