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Sunday, June 5, 2011

Bank of America BAC Technical Analysis 6/5/11

The following is Bank of America Corp. (NYSE:BAC) Technical analysis for June 06, 2011

Bank of America Corporation BAC Resistance, pivot & Support Levels - 06/06/2011

Resistance levels: $11.74, $11.58, $11.43

Pivot point: $11.29
 

Support levels:$11.14, $11.00, $10.85
   
Bank of America Corp (BAC) is trading under 9 day moving average on Friday and will now have resistance at $12.34 which is the 50 day moving average. Bank of America old support area broke today now new support area is $10.89 which is last Dec  low.Bank of America can close and hold above $15, the stock could easily $16-$17.On the downside, BAC is a strong buy under $13 if we see a pullback.But this is  low risk banks stock.This is my one top pick for 2011.    


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