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  • BAC is Back in Power Mode Today - Bank of America Corporation (BAC)

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    Bank of America Corp.
    Wednesday September 1, 2010 at 10:56 am EST
    Bank of America Corp. (BAC) in Power Mode
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    Bank of America Corporation (NYSE:BAC) is on the rise today along with other major stocks in the sector. Stocks opened sharply higher on Wednesday on positive reports showing a rebound in China manufacturing. Also, stronger-than-expected economic growth in Australia boosted optimism about the global economy.

    The Rally got further momentum after the Institute for Supply Management (ISM) said that the index of manufacturing activity rose to 56.3 in August.. this Index is considered good if it is above 50. BofA shares have so far recovered far better from the lows as compared to other banks that were troubled during the recession.

    Shares of Bank of America Corp. (NYSE:BAC) are trading at above $13 at around 5% gains from Tuesday's close. The only Major Support level below is at $12.59 as consumers are fearing a re-recession. Resistance levels at $13.25, $13.95 and $14.53.
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