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  • Bank of America Corp. (NYSE:BAC): Market Report Wednesday - 03/23/2011

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    Wednesday March 23, 2011 at 06:05 pm EST
    Bank of America Corp. (NYSE:BAC): Market Report Wednesday - 03/23/2011
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    As per reports today, Federal Reserve objected to Bank of America Corp.'s decision to raise dividend. Bank of America Corp. (NYSE:BAC) wanted to increase its divident in the second half of the year. BofA shares dropped 1.6% closing at $13.65 with a low of $13.37 for the day.

    Also in an announcement today, Bank of America Corp. CEO Brian Moynihan along with Detroit Mayor Dave Bing said that the bank will open 2 customer assistance centers in the Detroit area to serve mortgage and other credit customers who are facing financial difficulty.

    Bank of America Corp. (NYSE:BAC) and the city will identify up to 100 low-value and vacant properties for demolition and then donate the land to the city for green space, urban farming or redevelopment.

    Shares of Bank of America Corp. (NYSE:BAC) closed at $13.65 below the resistance level of $13.95. Major support levels for Bank of America Corp. (NYSE:BAC) below current price are at $13.29, $12.55, and at $11.81. Resistance levels above current price are at $13.95, $14.48 and at $15.08.

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