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Wednesday, July 20, 2011

BANK of America (BAC) bearish consolidating completed

Looks like BAC is consolidating with strong support at 9.41

1) Trendline - Downtrend (Bearish)
2) Formed lower low- (Bearish)
3) MACD - Waiting for 4R1G signal with a white candle today but still bearish ( Bearish) .
4) RSI -  Still bearish and waiting to break above 30% (Bearish)
5) Sto - Bullish Crossover and waiting to break above 20% (Bullish)
6) ADX - strong momentum and Bearish
7) Candle Stick - Spinning top and awaiting for next day candle to determine. If harami attack it will show a bullish reversal  ( Undetermined)

Entry Price 9.8
Resistance 10.45 , 10.64, 10.89 and 11.32
     Support 9.41

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