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Next Support Level for Bank of America (BAC) is $24.55

By Shiri Gupta

Shares of Bank of America (NYSE:BAC) have bearishly opened below the pivot of $24.99 today and have reached the first support level of $24.70. Should the shares continue to fall, the support pivots of $24.55 and $24.11 will be of interest.

Potential upside of 0.0% exists for Bank of America, based on a current level of $0.00 and analysts' average consensus price target of $25.17. The stock should run into initial resistance at its 50-day moving average (MA) of $13.75 and subsequent resistance at its 200-day MA of $15.47.

Over the past year, Bank of Americahas traded in a range of $0.00 to $25.80 and are now at $0.00. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 1.2%.

SmarTrend recommended that subscribers consider buying shares of Bank of America on July 20th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $14.35. Since that recommendation, shares of Bank of America have risen 73.3%. We continue to monitor BAC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts Bank of america

Ticker(s): BAC