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Friday, November 19, 2010

Bank of America Corp (BAC) Stock Analysis

By Tim - http://stockstobuy.org

The following is Bank of America Corp. (NYSE:BAC) technical analysis for November 19, 2010

Bank of America Corp. Support & Resistance Levels - 11/19/10

Resistance Levels: $12, $12.57, $13
Support Levels: $11.03

Chart - Courtesy of www.stockcharts.com

Bank of America Corp (BAC) continues to be very weak after breaking $12 earlier in the week. Bank of America will now have support down at the 52 week low of $11.03. Bank of America Corp will continue to have resistance located at the 50 day moving average ($12.57) and $12.74 which was the recent high. If Bank of America can close above the 50 day moving average, I feel it can run back into the mid $13's and break out of this downtrend.

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