Bank of America may rise to 46.50 - 47.50

Our pivot point is at 41.4.

Our preference

The upside prevails as long as 41.4 is support.

Alternative scenario

The downside breakout of 41.4 would call for 39.8 and 38.8.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 41.1125 and 39.99).

Supports and resistances

48.5 **

47.5 *

46.5 **

45.5

42.9 (USD-last)

42

41.4 **

39.8 *

38.8 **

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