Today’s instrument is the Bank of America Corp.‘s stock traded on the NYSE exchange under the ticker BAC. When we look at the BAC‘s chart, we can see it's been trading steadily in the $40 region for the majority of last week, occasionally attempting to break above the $40.5 resistance level, but returning to consolidation. On Friday’s session, it broke below the $39.5 range, falling into the $38.5 and closing the day in the $37.5 range where it was last found trading.
Bank of America Corp. has scheduled a quarterly earnings announcement today 18/04/2022. If earnings expectations are surpassed, we could expect the price to move upwards, towards $43.
Today we can expect a move towards and above the $40.50 resistance level.
If, however, it doesn’t manage to hold on to the current level then a move towards and below the $37.50 closest temporary support level can be expected.
(Click on image to enlarge)
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