Bank of America dips amid positive pressures - Analysis - 14-11-2017

Economies.com
2017-11-14 12:25PM UTC

Bank of America's stock (BAC) fell in the intraday levels, recording a new loss of 0.41% in the last session, or 0.11 points, amid the dominance of the main upward trend in the medium and short terms, while the stock gets buoyed by a positive pattern that formed in the short term, the Symmetrical Triangle pattern as shown in the attached chart, with positive pressure from the 50-day SMA, as the stock seeks a bottom to send it higher anew. 

 

Therefore we expect the stock to return higher, provided the support of 25.77 holds on, targeting the important resistance of 28.12. 

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