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  • Citigroup Inc. (NYSE:C) and Bank of America Corp. (NYSE:BAC) Flying High Today

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    Wednesday June 29, 2011 at 11:00 am EST
     
    Citigroup Inc. (NYSE:C) and Bank of America Corp. (NYSE:BAC) Flying High. 
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    Shares of Citigroup Inc. (NYSE:C) gained 1.8% Today in early trading on positive News from Greece as well as Bank of America Corp.(NYSE:BAC) settlement News. Shares of Citigroup Inc. are trading at $40.90 below the resistance level of $41.35. Citigroup Inc. (NYSE:C) shares gained more than 2.5% in the pre-market. Major resistance levels above $40.90 are at $44.21, $45.38, $46.2, and $47.32.

    Bank of America Corp. (NYSE:BAC) is trading at $11.12 at strong resistance level of $11.26. Bank of America Corp. (NYSE:BAC) announced this morning that it has reached an agreement to resolve nearly all of the legacy Countrywide-issued first-lien residential mortgage-backed securitization (RMBS) repurchase exposure, representing 530 trusts with original principal balance of $424 billion. Major Resistance levels for Bank of America Corp. (NYSE:BAC) above current price are at $$11.76, $12.3, $12.67 and $13.2. There are no major support levels below this price.


    Bank of America Corp. (NYSE:BAC) shares gained heavily in the pre-market and crossed $11.50 but came down soon. Options are trading at higher volume Today for both Bank of America Corp. (NYSE:BAC) and Citigroup Inc. Analysts are considering these Bank stocks a good long term investment.


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