The following is a Bank of America ( BAC ) stock technical analysis for March 30, 2009.Bank of America Support & Resistance Levels - 3/30/09
Resistance Levels: $7.00, $7.50, $8.57
Support Levels: $5.95, $5.00
BAC stock continues to stay above the 10 day moving average, a very bullish and healthy sign. Any close below this level and Bank of America will retest the 50 day moving average. As long as a stock remains above the 50 day moving average, I will buy the pullbacks. Anything under the 50 day and I will be shorting it.
On the upside, if BAC trades back above $8, it will get my attention and I will be buying. A close above $8.57 would cause another break out toward the $10 level and possibly higher. Bottom Line: Pay attention to both moving averages and $8.00.
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