By Tim - http://stockstobuy.org
The following is Bank of America Corp. (NYSE:BAC) technical analysis for August 30, 2010
Bank of America Corp. Support & Resistance Levels - 8/30/10
Resistance Levels: $13, $13.06, $14.30
Support Levels: $12.20, $11.90
Chart - Courtesy of www.stockcharts.com
Bank of America Corp. (BAC) still cannot get back above that stingy 10 day moving average and the stock is very weak again. Bank of America is now trading at a new 52 week low today and is nearing my $11.90-$12.20 support zone. As I have been saying for months now, if Bank of America trades down into or below this zone, I am expecting a bounce soon after. I continue to view Bank of America as buy below $13 so I would continue adding to my long term position.
Bank of America Corp. (BAC) still cannot get back above that stingy 10 day moving average and the stock is very weak again. Bank of America is now trading at a new 52 week low today and is nearing my $11.90-$12.20 support zone. As I have been saying for months now, if Bank of America trades down into or below this zone, I am expecting a bounce soon after. I continue to view Bank of America as buy below $13 so I would continue adding to my long term position.
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