Bank of America Corporation (BAC) jumped 66 cents (on Tues), or 4.70%, on one of the heaviest-volume sessions this year. Moreover, the stock closed above the downward sloping trend line of the symmetrical triangle pattern in which it has consolidated over the last two months.
The move confirms a trend reversal and the start of new momentum, which could move the stock towards the $15.70 area short-term. Preferred entry (buy stop) price is at $14.80 with a stop-loss price at $14.30.
Originally published on TraderHR.com.
