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Bank of America Corporation (BAC) “On a long-term technical basis, the stock (BAC) is trading above its 200-day moving average which implies it is in a positive trend.
The stock has support at 31.07 and 29.42. If the stock breaks down through support at 31.07 then it will probably continue lower to 29.42. The stock will meet resistance at 33.60 and 37.80. If the stock breaks up through resistance at 33.60 then it will probably continue higher to 37.80. The 200-day moving average is at 29.30. This will also act as support. The stock is extremely overbought according to the Stochastic Indicator (84.21).”
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