Bank of America may rise to 45.30 - 46.30

Our pivot point is at 40.9.

Our preference

The upside prevails as long as 40.9 is support.

Alternative scenario

The downside breakout of 40.9 would call for 39.5 and 38.5.

Comment

The RSI is above 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 40.4375 and 39.8422).

Supports and resistances

47.2 **

46.3 *

45.3 **

44.4

42.32 (USD-last)

41.5

40.9 **

39.5 *

38.5 **

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