By Tim - http://stockstobuy.org
The following is Bank of America Corp. (NYSE:BAC) technical analysis for November 3, 2010
Bank of America Corp. Support & Resistance Levels - 11/3/10
Resistance Levels: $12
Bank of America Corp. Support & Resistance Levels - 11/3/10
Resistance Levels: $12
Support Levels: $11.03, $10.53, $10.00
Chart - Courtesy of www.stockcharts.com
Bank of America Corp (BAC) is trading in the $11.40's today but can't seem to break out above $11.72, the recent high. Bank of America is trading right at the 10 day moving average so if it can stabilize here, we might see a break above $11.72 next week. Bank of America Corp must hold $11.00 on the downside or the risk to a retest of the low $10's is large. Bank of America stock would also see a large volume spike below $11 as investors get stopped out of their long positions. BAC can go either way at this point. Watch $11.72 & $11 for a tip-off of the next major move.
Bank of America Corp (BAC) is trading in the $11.40's today but can't seem to break out above $11.72, the recent high. Bank of America is trading right at the 10 day moving average so if it can stabilize here, we might see a break above $11.72 next week. Bank of America Corp must hold $11.00 on the downside or the risk to a retest of the low $10's is large. Bank of America stock would also see a large volume spike below $11 as investors get stopped out of their long positions. BAC can go either way at this point. Watch $11.72 & $11 for a tip-off of the next major move.
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