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Monday, January 31, 2011

Bank of America Corp (BAC) Stock Analysis 1/30/11

By Tim - http://stockstobuy.org

The following is Bank of America Corp. (NYSE:BAC) technical analysis for January 30, 2011

Bank of America Corp. Support & Resistance Levels - 1/30/11

Resistance Levels: $14.18, $15

Support Levels: $13.40, $12.95

Chart - Courtesy of www.stockcharts.com

Bank of America Corp (BAC) failed at the 10 day moving average on Friday and closed $13.60. Bank of America has support at $13.40 on the downside but then nothing until about $13. Bank of America will now have resistance at the 10 day moving average ($14.18). BAC is a strong buy below $12.98 which is where the 50 day moving average is located. Bank of America Corp will get hot again at some point in 2011, this is just a correction.

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