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Watching BAC around 59
Been keeping an eye on $BAC this week, and it's certainly had an interesting run. It pushed up to 59 today, which is a level I'm curious about. From my charts, that 59 mark has been a bit of a sticky point in the past, almost acting like a minor ceiling. If it can decisively break and hold above it, say on some sustained volume, then I think there's a good chance it could challenge the next resistance higher up. However, if it rejects 59 and starts to roll over, especially if it dips below 58.50 on the daily, then the bullish momentum I'm seeing would definitely be invalidated for now, and I'd be looking for a retest of lower support. Just my two cents, interested to hear what others are seeing.
1 comments · 1 points
I agree, $BAC at 59 is an interesting level. I've also noted that historical resistance around there, and a clean break with follow-through would definitely signal a shift in momentum for me.