September 12, 2012

Bank Of America Chart analysis

  • BAC Month candle is moving above 20 Month SMA. 
  • Volumes in weekly chart does not support this up move. Price is approaching 100 Week SMA. Only a weekly close above 100 Week SMA with good volume spike can confirm a breakout.
  • Price is also about to escape from the weekly cloud. Closing above the cloud will favor bulls to extend the up move.

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