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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. However, the stock has broken up through an important long-term resistance level at 20.57 suggesting the long-term down trend could be turning neutral. If this new level of support at 20.57 holds, look for a move higher to the next resistance level at 25.05.
The stock has support at 20.57 and 17.95. If the stock breaks down through support at 20.57 then it will probably continue lower to 17.95. The stock has resistance at 22.95 and at 25.05. If the stock breaks up through resistance at 22.95 then it will probably continue higher to 25.05. The 200-day moving average is at 29.73. This will also act as resistance. The stock is neutral according to the Stochastic Indicator (49.22).”
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