Bank of America exhausts positive chances - Analysis - 05-08-2019

Bank of America's stock skidded in the short term to lean on the main upward medium-term trend line, with negative signals from the RSI, while surpassing the support of the 50-day SMA, while also seeking a bottom to gather momentum and bolster it higher. 

Therefore we expect the stock to return higher, provided the support of 22.87 holds on, targeting the resistance of 29.65. 

Expected trend for today: Bullish