Bank of America emits some negative signals - Analysis - 27-04-2017

Bank of America's stock (BAC) fell in the intraday levels, registering a loss of 0.38% in the last session, or 0.09 points, after the pivotal resistance of 23.97 held on, amid ongoing negative pressure from the SMA for the last 50 days period, as relative power indicators reached extremely overbought levels compared to the stock's upward movement, while the stock gets hurt by a negative technical pattern that formed previously in the short term, the Rising Wedge pattern. 

Therefore we expect more losses to come for the stock, as long as the resistance of 23.97 holds on, targeting the support of 22.45.