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  • Bank of America Corp. (NYSE:BAC) Fund Manager Survey Revealed Growth and Profitability Fears

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    Tuesday March 15, 2011 at 11:57 am EST
     
    Bank of America Corp. (NYSE:BAC) Fund Manager Survey Revealed Growth and Profitability Fears
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    Bank of America Corp. (NYSE:BAC) Survey has revealed that investors have fears regarding corporate profitability and global growth due to Oil price rise. There were many more interesting findings from this survey among Fund managers carried out by BofA Merrill Lynch.

    24% asset allocators expect corporate margins to fall in next one year which is a record high month-on-month decline since 2004. This high Negative Outlook by the Fund managers and ever increasing Oil prices along with inflation is leading the markets towards another unstable period. Japan Fears are adding to the fear, Dow Jones is down 210 points this morning while NASDAQ dropped 44 points as of noon.



    Shares of Bank of America Corp. (NYSE:BAC) are trading at $13.85 exactly above the support level of $13.65. Major support levels for Bank of America Corp. (NYSE:BAC) below current price are at $13.2, $12.53, and at $11.81. Resistance levels above current price are at $14.55 and at $14.12, $14.48 and $15.08.


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