May 24, 2016

Bank of America chart update

  • Bank of America daily stands below the falling 200 SMA. More weakness for the stock if price falls below 14.02 levels as shown in daily time frame.
  • Structure in weekly is doing a corrective up move for the big fall from 18 levels. Now despite this corrective up move the structure will remain bearish price stays below the rectangle shown in last chart.
  • Weekly resistance level is the golden ratio at 15.40.

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