Bank of America may rise to 42.70 - 43.50

Our pivot point is at 38.7.

Our preference

The upside prevails as long as 38.7 is support.

Alternative scenario

The downside breakout of 38.7 would call for 37.4 and 36.6.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 39.595 and 39.2978).

Supports and resistances

44.3 **

43.5 *

42.7 **

42

40.19 (USD-last)

39.2

38.7 **

37.4 *

36.6 **

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