Bank of America pierces pivotal resistance - Analysis - 10-01-2021

Bank of America's stock (BAC) rose 2.18% in the last session, piercing the pivotal resistance of 48.40, and settling at 49.18, amid positive support from the 50-day SMA, with the dominance of the main upward trend in the medium term, with positive signals from the RSI despite reaching overbought levels.

Therefore we expect more gains for the stock, targeting the resistance of 52.30, provided the resistance of 48.40 was breached.

Expected trend for today: Bullish