Bank of America may fall to 35.70 - 36.50

Our pivot point stands at 40.3.

Our preference

The downside prevails as long as 40.3 is resistance.

Alternative scenario

The upside breakout of 40.3 would call for 41.5 and 42.3.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 39.411 and 39.4084).

Supports and resistances

42.3 **

41.5 *

40.3 **

39.8

39.25 (USD-last)

37.3

36.5 **

35.7 *

35 **

Number of asterisks represents the strength of support and resistance levels.