Bank of America retests an important resistance - Analysis - 24-03-2017

Bank of America's stock (BAC) rose in the intraday levels, scoring a profit of 0.57% in the last session, or 0.13 points, and retesting the important resistance of 23.39, bouncing off it lower and trimming the gains, while getting hurt by piercing the upward short-term trend line previously, with ongoing negative pressure from the SMA for the last 50 days period. 

Therefore we expect the stock to return lower in the coming trading, as long as the resistance of 23.39 holds on, targeting the support of 21.77.