Our Sponsors

  • Citigroup Inc. (NYSE:C) and Bank of America Corp. (NYSE:BAC) Biggest Financial Losers

    citibank logo
    Thursday Aug 18, 2011 at 12:59 pm EST

    Citigroup Inc. (NYSE:C) and Bank of America Corp. (NYSE:BAC) Biggest Financial Losers
    Sign up for Daily alerts if you haven't done it yet. 
    US stocks crumbled down, with the Nasdaq down nearly 5% after data showed factory activity in the US Mid-Atlantic region unexpectedly fell to the lowest level since March 2009. Shares of Citigroup Inc. (NYSE:C) are now trading at $27.7 dropping 7% Today and down 41% YTD. Major resistance levels for Citigroup Inc. (NYSEC) above $27.76 are at $30, $37.65, $39.18, $40.06, $42.3, and $44.6. There are no support points below Today's current price.

    In a report Yesterday,Bank of America Corporation (NYSE:BAC) said it is in talks to sell a major portion of Merrill Lynch’s real estate portfolio to the Blackstone Group for up to $1 billion. As per sources Today, Bank of New York Mellon (BK) is opposing New York Attorney General Eric Schneierman's intervention in Bank of America's $8.5 billion dollar settlement of Countrywide mortgage putback claims with institutional investors.

    Shares of Bank of America dropped 6% and is currently trading at $7.03 Today. Major Resistance levels for Bank of America Corp. (NYSE:BAC) above current price are at $7.46, $9.66, $10.23, $10.55, $11.16 and $11.84. There is no major support level below the current price and a negative news can be real bad for BofA here. Investors are highly skeptic about the economy and any negative news results in fear sell off.

    You Might Want to Read These:

    2)Top Stock for the year 2011
    3)Financials with Huge Upside Potential
    4)Analyst Actions for Today


Leave a Reply

Latest Posts