Market Technical View is a blog that mostly concerns the technical analysis of different financial instruments like indices, commodities, stocks, ETFs and currencies.

All the posts are structured in 3 main chapters that can be found in Content, in the upper right-hand corner of the blog.

Market perspective. The technical approach consists of chart patterns and important support/resistance zones. The purpose of this section is to give directions of the price on short and medium term (a few days up to a few months).

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Romanian Market. This is a section dedicated to Romanian stocks and indices.

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Tuesday, February 28, 2012

Bank Of America (BAC) - strong support at $7.65. 2012.02.28

The previous analysis of Bank of America ( http://markettechnicalview.blogspot.com/2012/02/bank-of-america-bullish-engulfing.html ) pointed out a few arguments that can lead to achieving the $8.40 target in the next period.

Today, the $7.65 support proves stronger and the volumes show the interest in this stock at the support level. If nothing major will appear that could lead to a sell-off, the price can get rather quickly above $8.40 target.


Posted by Adrian Filip at 2:52 PM
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