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Next Resistance Level for Bank of America (BAC) is $11.32
[February 27, 2013]

Next Resistance Level for Bank of America (BAC) is $11.32

Feb 27, 2013 (SmarTrend(R) News Watch via COMTEX) -- Shares of Bank of America (NYSE:BAC) opened today above their pivot of $11.13 and have already reached the first level of resistance at $11.22. Analysts will be watching for a cross of the next upside pivot targets of $11.32 and $11.51.

Bank of America has overhead space with shares priced $11.26, or 11.3% below the average consensus analyst price target of $12.69. The stock should find resistance at its 50-day moving average (MA) of $11.57, as well as support at its 200-day MA of $9.20.

Over the past year, Bank of America has traded in a range of $6.72 to $12.42 and is now at $11.26, 68% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has risen 0.6%.

SmarTrend recommended that subscribers consider buying shares of Bank of America on June 19th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $8.04. Since that recommendation, shares of Bank of America have risen 38.5%. We continue to monitor BAC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to Chip Brian at --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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