Bank of America Corporation BAC Resistance, pivot & Support Levels - 05/16/2011
Resistance levels: $12.51, $12.31, $12.12
Pivot point: $12.01
Support levels:$11.82, $11.71, $11.52
Share of Bank of America Corp (BAC) is trading under $12 which is very bearish in technical side.Stock maybe next support in $11s area.Stock will now have resistance at $12.23 which is the 9 day moving average. Bank of America would close below $12 and BAC stock could test $11 area level.Bank of America can close and hold above $15, the stock could easily $16-$17.On the downside, BAC is a strong buy under $13 if we see a pullback.But this low risk banks stock.This is my one top pick for 2011.
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