The following is Bank of America Corp. (NYSE:BAC)technical analysis for February 11, 2010
Bank of America Corp. Support & Resistance Levels - 2/11/10
Resistance Levels: $15.05, $15.80, $16.60, $17.17
Support Levels: $14.50, $14.25, $14.11
Chart - Courtesy of www.stockcharts.com
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Bank of America is fighting to close back above It's 200 day moving average located at $14.83. In order for a sustainable rally, BAC needs to also get back above It's 10 day moving average located at $15.05. By looking at the chart, Bank of America appears to have made a double bottom located at $14.11 & $14.25. I would only be a buyer of BAC when it closes back above the high two weeks ago located at $15.80. This would be a sign that the stock has bottomed and is breaking out to new highs which is very bullish.
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