June 23, 2013

BANK Of America weekend update

  • BAC Daily chart shows price breaking below the Descending Triangle pattern, But bulls were saved from bigger fall by the 100 Day SMA.
  • For the short term the up trend will be safe if price continues to stay above 100 Day SMA. 
  • Weekly chart too shows the up trend intact as price stays above the up trend line from 6.9 levels. Bears must break these two levels for a major change in trend to happen.

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