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Wednesday, September 1, 2010

Bank of America Corp BAC Looks Strong Today

By Tim - http://stockstobuy.org

The following is Bank of America Corp. (NYSE:BAC) technical analysis for September 1, 2010

Bank of America Corp. Support & Resistance Levels - 9/1/10

Resistance Levels: $13, $13.91, $14.30

Support Levels: $12.20, $11.90

Chart - Courtesy of www.stockcharts.com

Bank of America Corp. (BAC) is spiking back above $12.68 which is It's 10 day moving average today. Bank of America Corp will have resistance located at $13 but then nothing until $13.91 which is It's 50 day moving average. I continue to view Bank of America stock as a solid long term buy below $13. While it's a bit to early to say if Bank of America has bottomed, today's move higher off the low is a step in the right direction.

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