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).

Trading setups. The analysis posted here will provide trading scenarios based on different technical tools.

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

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Wednesday, April 18, 2012

Bank of America shows good support at $8.90. 2012.04.18

The previous analysis of Bank of America in late March ( ) signaled a potential short term correction that actually happened.

The support zone in the $8.40-$8.90 area was reached last week and this could be a good area for the investors to buy stocks. The mid-term target on the up-side is in the $11.00 area but the first target is at the previous highs, in the $10.00 area.

An eventual rising session backed-up by relevant volumes will give more clues for a trend resuming. 

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