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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Thursday, February 2, 2012

Bank of America still aims for $8.40 target

The previous analysis of Bank of America (http://markettechnicalview.blogspot.com/2012/01/bank-of-america-is-on-its-way-to-840.html) showed a temporary resistance in the $7.4000.

The BAC share price declined for a few days and found support at $7.0400 level as the bulls managed to dominate the bears. Yesterday’s session retested the current resistance ($7.4000) and the eventual break of it will confirm the bullish trend resuming (on short term).

The first target still stands in the $8.40-$8.90 area.


Posted by Adrian Filip at 3:13 PM
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