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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 20.13 and 16.24. If the stock breaks down through support at 20.13 then it will probably continue lower to 16.24. The stock has resistance at 26.10 and at 27.94. If the stock breaks up through resistance at 26.10 then it will probably continue higher to 27.94. The 200-day moving average is at 30.67. This will also act as resistance. The stock is extremely oversold according to the Stochastic Indicator (8.11).”
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