Bank of America tries to gather momentum - Analysis - 23-11-2020

Bank of America's stock (BAC) fell 0.63% in the last session amid negative signals from the RSI, leaning on the support of 26.82, representing the ratio 50% of Fibonacci retracement levels for a descending wave in the medium term (from 35.45 to 17.95), with positive pressure from the 50-day SMA. 

Therefore we expect the stock to return higher, targeting the next resistance at 28.90, representing the ratio 61.8% of the same retracement levels. 

Expected trend for today: Bullish