Earnings, Bernanke Combine to Propel BAC to New Multi-Month Highs

In the aftermath of this morning's earnings report, Bank of America (BAC) has climbed in excess of 3%, to a new multi-year high at 14.38.

The most recent upleg from the June 24 low at 12.13 is alive and well, and points still higher, as Bank of America is streaking towards a confrontation with the upper trendline of its year-long bullish channel, now in the vicinity of 15.00.

At this juncture, only a sudden downside reversal and decline that breaks 14.00 will trigger near-term sell signals.

  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!