Bank of America, another failed pattern

Yet another failed break out as Bank of America (BAC) gave back last week’s gains in the previous two sessions. It appears to have found support around $17.30 for now while sellers lurk around $17.60. Holding above $17.60 would be a bullish sign.
I am keeping an eye on financials in general as they were one of the strongest sectors recently. I think they are sort of a “canary in the coal mine” for the market in general.

BAC Daily Chart

BAC Daily Chart

About Stock Trade Journal

The information in this blog is not investment advice. Please consult a financial advisor before investing. I have been trading stock since the 1990's and survived the .com crash. I am developing software applications to help me trade better and now I am making them available to help other traders. This blog is also a way to share my experiences and observations in the market.
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