By Tim - http://stockstobuy.org
The following is Bank of America Corp. (NYSE:BAC) technical analysis for August 25, 2010
Bank of America Corp. Support & Resistance Levels - 8/25/10
Resistance Levels: $13, $13.06, $14.30
Support Levels: $12.20, $11.90
Chart - Courtesy of www.stockcharts.com
Bank of America Corp. (BAC) is hitting another 52 week low at $12.51 in pre market this morning. Bank of America Corp continues to hold up well despite the dow Jones Futures down another 65 points. 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. If you want a less risky trade, wait to buy Bank of America when it closes back above It's 10 day moving average.
Bank of America Corp. (BAC) is hitting another 52 week low at $12.51 in pre market this morning. Bank of America Corp continues to hold up well despite the dow Jones Futures down another 65 points. 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. If you want a less risky trade, wait to buy Bank of America when it closes back above It's 10 day moving average.
Today's Biggest Stock Gainers - Top 2010 Stock Gainers - Top 2010 Penny Stocks - Top 2009 Stock Gainers - Top 2009 Penny Stocks - Stocks for 2010
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free
