By Tim - http://stockstobuy.org
The following is Bank of America Corp. (NYSE:BAC) technical analysis for July 29, 2010
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Bank of America Corp. Support & Resistance Levels - 7/29/10
Resistance Levels: $14.65, $15.05, $15.72
Support Levels: $14, $13.30
Chart - Courtesy of www.stockcharts.com
Bank of America Corp (BAC) is currently trading above It's 10 day moving average but is in a huge downtrend. While I like Bank of America Corp for the long term, we won't see a new uptrend begin until the stock closes above and holds It's 200 day moving average. $13-$13.30 is solid support so I'd be a buyer if the stock hit that zone. Rallies to the 50 and 200 day moving averages should be sold right now.
Bank of America Corp (BAC) is currently trading above It's 10 day moving average but is in a huge downtrend. While I like Bank of America Corp for the long term, we won't see a new uptrend begin until the stock closes above and holds It's 200 day moving average. $13-$13.30 is solid support so I'd be a buyer if the stock hit that zone. Rallies to the 50 and 200 day moving averages should be sold right now.
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