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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 support at 23.78 and 22.17. If the stock breaks down through support at 23.78 then it will probably continue lower to 22.17. The stock has resistance at 25.11 and at 29.00. If the stock breaks up through resistance at 25.11 then it will probably continue higher to 29.00. The 200-day moving average is at 29.00. This will also act as resistance. The stock has broken out of its long-term downtrend and is looking more positive recently. If the stock can form new support above 23.78 look for a rally to previous highs. The stock is neutral according to the Stochastic Indicator (55.14).”
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