Bank of America may rise to 41.70 - 42.40

Our pivot point is at 38.

Our preference

As long as 38 is support look for 41.7.

Alternative scenario

The downside breakout of 38 would call for 36.8 and 36.1.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The stock could retrace in the short term. Moreover, the stock is below its 20 day moving average (39.4245) but above its 50 day moving average (38.1764).

Supports and resistances

43.1 **

42.4 *

41.7 **

40.9

39.24 (USD-last)

38.4

38 **

36.8 *

36.1 **

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