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  • Bank of America Corp. (NYSE:BAC) CEO: Defaults Are Still Rising

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    Wednesday Apr. 13, 2011 at 09:17 pm EST
     
    Bank of America Corp. (NYSE:BAC) CEO: Defaults Are Still Rising
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    As per reports from Bank of America Corp. (NYSE:BAC) CEO Brian T. Moynihan said that defaults are still increasing in spite of efforts to prevent foreclosures.

    “We’re reaching a point where some customers will be dealing with the reality that despite the myriad programs and the best efforts of everyone in this room, and of our teammates working with these customers, foreclosure may be unavoidable,” Moynihan said today during a speech to state attorneys general in Charlotte, North Carolina.
    Shares of Bank of America Corp. (NYSE:BAC) closed at $13.27 below support level of $13.32. Major support levels for Bank of America Corp. (NYSE:BAC) below current price are at $12.49, $11.83 and at $11.21. Resistance levels above current price are at $13.67, $14.12 and at $14.49. Shares of Bank of America Corp. (NYSE:BAC) looks like a good buy at this price.

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