Bank of America's stock slid in the intraday levels after the resistance of 28.86 held on, representing the ratio 38.2% of Fibonacci retracement levels for an ascending wave in the medium term (from 22.09 to 33.05), while recording a loss of 2.70% in the last session, or 0.77 points, with negative signals from the RSI after reaching overbought levels, coupled with negative pressure from the 50-day SMA.
Therefore we expect more losses for the stock, especially if the support of 27.57 was breached, targeting the next one at 26.28, which represents the ratio 61.8% of the same retracement levels mentioned above.
Expected trend for today: Bearish