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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. If the new level of support at 22.95 holds, look for a bounce to the next resistance level at 25.07. If the stock breaks up through resistance at 25.07 a positive trend change is being attempted. Look for a possible long-term rally to previous highs.
The stock has support at 22.95 and 21.78. If the stock breaks down through support at 22.95 then it will probably continue lower to 21.78. The stock has resistance at 25.07 and at 29.39. If the stock breaks up through resistance at 25.07 then it will probably continue higher to 29.39. The 200-day moving average is at 29.39. This will also act as resistance. The stock is neutral according to the Stochastic Indicator (48.17).”
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