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Bank Of America (BAC) Approaches New Upside Target of $22.68

By Nick Russo

Shares of Bank Of America (NYSE:BAC) opened today above their pivot of $22.05 and have already reached the first level of resistance at $22.43. Should the shares continue to rise, the resistance pivots of $22.68 and $23.31 will be of interest.

There is potential upside of 53.9% for shares of Bank Of America based on a current price of $22.61 and an average consensus analyst price target of $34.80. Bank Of America shares should first meet resistance at the 50-day moving average (MA) of $24.80 and find additional resistance at the 200-day MA of $29.70.

In the past 52 weeks, Bank Of America share prices have been bracketed by a low of $17.95 and a high of $35.72 and are now at $22.61, 26% above that low price. The 200-day and 50-day moving averages have moved 0.6% lower and 4.88% lower over the past week, respectively.

SmarTrend is tracking the current trend status for Bank Of America and will alert subscribers who have BAC in their portfolio or watchlist when shares have changed trend direction.

Keywords: pivot alerts Bank of america

Ticker(s): BAC