Bank of America (BAC) Approaches New Upside Target of $11.77
Shares of Bank of America (NYSE:BAC) opened today above their pivot of $11.54 and have already reached the first level of resistance at $11.63. Investors may be interested in a cross of the next upside pivot targets of $11.77 and $12.00.
In the past 52 weeks, shares of Bank of America have traded between a low of $6.72 and a high of $12.20 and are now at $11.58, which is 72% above that low price. The 200-day and 50-day moving averages have moved 0.46% higher and 1.15% higher over the past week, respectively.
Bank of America (NYSE:BAC) has potential upside of 5.4% based on a current price of $11.58 and analysts' consensus price target of $12.20. Bank of America shares have support at the 50-day moving average (MA) of $11.07 and additional support at the 200-day MA of $8.94.
SmarTrend recommended that subscribers consider buying shares of Bank of America on June 19th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $8.04. Since that recommendation, shares of Bank of America have risen 42.9%. We continue to monitor BAC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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