Bank of America Corporation BAC Resistance, pivot & Support Levels - 05/06/2011
Resistance levels: $12.74, $12.59, $12.44
Pivot point: $12.32
Support levels:$12.17, $12.05, $11.90
Share of Bank of America Corp (BAC) is trading $12.60s last few days.Stock maybe found support in $12s area.Stock will now have resistance at $12.82 which is the 9 day moving average. Bank of America would close below $12 and BAC stock could test $12 area level.Next support area is $12.20 and follows by $11.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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