December 28, 2012

BANK of America Chart update

  • Bank of America daily chart shows price moving up in an ascending channel. Price sustaining inside the channel will continue to favor bulls of BAC.
  • 2nd chart also shows price with MACD. Daily MACD is still going strong, No sell signal yet. Bears need a channel break and MACD sell for bigger correction.
  • Weekly chart shows price making higher high while indicator making lower high. In strong trending market this doesn't mean much. Bears need weakness to confirm weekly negative divergence.

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