Sunday, May 22, 2011

Bank of America BAC Technical Aanalysis

The following is Bank of America Corp. (NYSE:BAC) Technical analysis for May 23, 2011

Bank of America Corporation BAC Resistance, pivot & Support Levels - 05/23/2011

Resistance levels: $12.69, $12.32, $11.95

Pivot point: $11.74

Support levels:$11.37, $11.16, $10.79

Share of Bank of America Corp (BAC) is continue trading down again Friday and stock is trading under $12 which is very bearish in technical side.Stock maybe next support in $11s area.Stock will now have resistance at $11.89 which is the 9 day moving average. Bank of America would close below $12 and BAC stock could test $11 area level.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 low risk banks stock.This is my one top pick for 2011.