Bank of America may fall to 33.70 - 34.80

Our pivot point stands at 39.9.

Our preference

The downside prevails as long as 39.9 is resistance.

Alternative scenario

Above 39.9, look for 41.8 and 42.9.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 40.1945 and 40.2236).

Supports and resistances

42.9 **

41.8 *

39.9 **

39.2

38.46 (USD-last)

35.9

34.8 **

33.7 *

32.6 **

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