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Bank of America (BAC) Stock Analysis 2012
As we head into 2012, Bank of America (BAC) stock is trading in a range
between $5.50 - $7.25. On October 28, 2011, BAC hit a high of $7.43 and closed at $7.35. The low that day was
$7.08. This is going to be a major resistance area in 2012, between $7.08 - $7.43. When you see BAC enter back
into this range, it will either fail and sell off, or break out of this price range and start a new leg higher.
If Bank of America (BAC) stock closes above $7.43 at any time in 2012, I will be buying hand of fist. If you want to
get in front of this trade, buy BAC stock on a break above $6.59 which is the first wave of resistance. My price target
for BAC on a close above $7.43 is $8.18-$8.41 followed by $8.80. This would represent a nice 10-15% gain. A close
above $8.80 would most likely result in a retest of $10. So in 2012, watch $7.43, $8.18, $8.80. On the downside, Bank of America (BAC) stock will have support around $5 in 2012.
| Bank of America BAC Stock Analysis 2012 |
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| BAC Technical Analysis 2012 |
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