Bank of America may fall to 36.40 - 37.40

Our pivot point stands at 42.7.

Our preference

Under pressure below 42.7.

Alternative scenario

The upside breakout of 42.7 would call for 44.3 and 45.3.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 41.8665 and 40.4774).

Supports and resistances

45.3 **

44.3 *

42.7 **

42

40.31 (USD-last)

38.3

37.4 **

36.4 *

35.5 **

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