HY MARKETS News : Stocks Report:Bank of America Corp
May 5, 2014 7:42 pm
Bank of America recently fell strongly inside the intermediate ABC correction (4) from March. The (C)-wave of this ABC correction stopped at the strong support level 15.00 (former strong resistance level which reversed Bank of America down in July of last year, acting as support now after it was broken in last November).
The support area surrounding 15.00 is strengthened by 50% Fibonacci Correction of the upward impulse from last June and the support trendline of the daily down channel from March.Bank of America is set to rise further to the next buy target at 16.00.
Bank of America recently fell strongly inside the intermediate ABC correction (4) from March. The (C)-wave of this ABC correction stopped at the strong support level 15.00 (former strong resistance level which reversed Bank of America down in July of last year, acting as support now after it was broken in last November).
The support area surrounding 15.00 is strengthened by 50% Fibonacci Correction of the upward impulse from last June and the support trendline of the daily down channel from March.Bank of America is set to rise further to the next buy target at 16.00.
The post HY MARKETS News : Stocks Report:Bank of America Corp appeared first on | HY Markets Official blog.
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