By Tim - http://stockstobuy.org
The following is Bank of America Corp. (NYSE:BAC) technical analysis for August 24, 2010
Bank of America Corp. Support & Resistance Levels - 8/24/10
Resistance Levels: $13, $13.16, $14.35
Support Levels: $12.20, $11.90
Chart - Courtesy of www.stockcharts.com
Bank of America Corp. (BAC) is hitting a new 52 week low at $12.72 in pre market but until the stock actually opens, we won't know for sure. Bank of America Corp is actually holding up very well despite the Dow Jones Futures being lower by 118 points today. Bank of America will start hitting support at $12.20 down to $11.90 but then nothing until about $11.50. Bank of America is trading well below the 50 & 200 day moving averages and the stock is extremely oversold compared to historical data. This means, I would continue adding below $13 for the long term or a short term bounce.
Bank of America Corp. (BAC) is hitting a new 52 week low at $12.72 in pre market but until the stock actually opens, we won't know for sure. Bank of America Corp is actually holding up very well despite the Dow Jones Futures being lower by 118 points today. Bank of America will start hitting support at $12.20 down to $11.90 but then nothing until about $11.50. Bank of America is trading well below the 50 & 200 day moving averages and the stock is extremely oversold compared to historical data. This means, I would continue adding below $13 for the long term or a short term bounce.
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