January 3, 2013

BANK of America Chart update

  • BAC Weekly chart moving above the Golden ratio towards 78.6% Fib level.
  • Price sustaining above 200 SMA is also good news for bulls. Bulls need a weekly close above 200 SMA for confirming price momentum.
  • Daily MACD continue to be in buy mode. There is a GAP in daily chart, For bears if this gets filled it may trigger a sell signal in MACD.

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