Mike's Mid Day Minute is available to members on Monday, Wednesday & Friday evenings, with one article per week available to non-members. Members please login and see "Mike's Mid Day Minute" in the navigation menu towards the top of the page.

Upside Reversal for Bank of America


The 4% upmove today in Bank of America (BAC) after it hit lows not seen since May 2009 (on the way up) so far looks technically significant.

My daily and hourly pattern and momentum work on BAC suggest strongly that the most recent downleg from the 14.00 area ended this morning at new multi-month lows at 11.03. The upside reversal (so far) has the "right look" of a significant upside reversal and recovery rally within the 14.00-11.00 price move.

Initial resistance in BAC resides between 12.20 and 12.50, which will be a very important test for the recovering price structure.

  • 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!