Don't Ignore This Chart!

Bank of America (BAC) Tests Resistance

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Bank of America (BAC) has been pausing at resistance for a while. But Friday it showed big interest with a nice volume surge. We can see it is sitting just below the spring time highs.

With the MACD finding support just above zero, a near doubling on the daily volume, all with the surge above resistance, this looks very sweet. It was the #1 most active stock on Friday!

Good trading,
Greg Schnell, CMT

Announcement from the Author

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Greg Schnell
About the author: , CMT, is a Senior Technical Analyst at StockCharts.com specializing in intermarket and commodities analysis. Based in Calgary, he is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the Market Technicians Association (MTA) and the International Federation of Technical Analysts (IFTA). Learn More
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