Bank of America may rise to 45.10 - 46.10

Our pivot point is at 40.4.

Our preference

As long as 40.4 is support look for 45.1.

Alternative scenario

The downside breakout of 40.4 would call for 38.9 and 37.9.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The stock could retrace in the short term. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 41.647 and 40.3086).

Supports and resistances

47 **

46.1 *

45.1 **

44.2

41.68 (USD-last)

41

40.4 **

38.9 *

37.9 **

Number of asterisks represents the strength of support and resistance levels.