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Bank Of America (BAC) Crosses Pivot Point Support at $22.77

By James Quinn

Bank Of America (NYSE:BAC) has opened bearishly below the pivot of $23.12 today and has reached the first level of support at $22.77. Investors may be interested in a cross of the next downside pivot targets of $22.47 and $21.82.

Bank Of America (NYSE:BAC) has potential upside of 54.5% based on a current price of $22.53 and analysts' consensus price target of $34.80. Bank Of America shares should first meet resistance at the 50-day moving average (MA) of $23.71 and find additional resistance at the 200-day MA of $29.57.

In the past 52 weeks, shares of Bank Of America have traded between a low of $17.95 and a high of $35.72 and are now at $22.53, which is 26% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 4.4%.

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