By Tim - http://stockstobuy.org
The following is Bank of America Corp. (NYSE:BAC) technical analysis for November 7, 2010
Bank of America Corp. Support & Resistance Levels - 11/7/10
Resistance Levels: $12.71, $13, $13.75
Bank of America Corp. Support & Resistance Levels - 11/7/10
Resistance Levels: $12.71, $13, $13.75
Support Levels: $12.00
Chart - Courtesy of www.stockcharts.com
Bank of America Corp (BAC) tested the 50 day moving average on Friday but failed. Bank of America was still strong and is finally showing signs of a turnaround. Bank of America Corp will now have support on the downside located at $12. Bank of America will have resistance on the upside located at $12.71 as well as $13. In my opinion, Bank of America will have made an official bottom when the stock closes above $13.75 again.
Bank of America Corp (BAC) tested the 50 day moving average on Friday but failed. Bank of America was still strong and is finally showing signs of a turnaround. Bank of America Corp will now have support on the downside located at $12. Bank of America will have resistance on the upside located at $12.71 as well as $13. In my opinion, Bank of America will have made an official bottom when the stock closes above $13.75 again.
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