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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 17.94 and 16.24. If the stock breaks down through support at 17.94 then it will probably continue lower to 16.24. The stock has resistance at 24.55 and at 26.68. If the stock breaks up through resistance at 24.55 then it will probably continue higher to 26.68. The 200-day moving average is at 30.40. This will also act as resistance. The stock is extremely oversold according to the Stochastic Indicator (11.42), so look for a possible rebound soon. Confirm this with the Short-Term Opinion and Daily Opinion to keep from exiting prematurely”
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