Technical Earnings Preview: Bank of America at breakout levels ahead of news (TheFlyOnTheWall)
THE FLY 2:32 PM ET 10/12/2017
The stock has recently set a new high above resistance at the $26 area before making a small pullback ahead of earnings. If the news is strongly positive, the breakout could extend substantially further as is typical in range breaks. Resistance levels above the $26 area to watch as potential upside objectives are at $27, $27.78, the $29 area and the $30 area. If the news is a negative surprise, a drop below the $25 area would put the shares back into the prior range. Support levels to watch as potential downside objectives are at $23.83, the $23 area, and the $22 area which is the low of the range in place since the start of the year.
