Bank of America (BAC): Non-interest expense $18.94B vs. $18.86B in Q3. Tier 1 capital ratio 9.86% vs. 8.65% in Q3 and 8.60% in Q4 2010. TCE ratio 6.64% vs. 6.25% in Q3 and 5.99% in Q4 2010. As with the other TBTFs, investment banking was a drag, reporting a loss of $433M vs. income of $669M in Q4 2010. Shares +6% premarket
Resistance levels: $7.25, $7.02, $6.91
Pivot point: $6.68
Support levels: $6.57, $6.34, $6.23
Bank of America Corp trading over $7.10 (BAC) is which is very bullish right now. Stock has short term support $4.92 and long term support area is $4.50.Next resistance area is $7.45 which weekly resistance area now.BAC is buy here for long term.Stock could see see double form here next 12 months.This is my one of the Top Pick for 2012.
Resistance levels: $7.25, $7.02, $6.91
Pivot point: $6.68
Support levels: $6.57, $6.34, $6.23
Bank of America Corp trading over $7.10 (BAC) is which is very bullish right now. Stock has short term support $4.92 and long term support area is $4.50.Next resistance area is $7.45 which weekly resistance area now.BAC is buy here for long term.Stock could see see double form here next 12 months.This is my one of the Top Pick for 2012.
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