Bank of America (BAC) NewsBite - BAC Could Be On the Move

Posted: Thursday, June 25, 2009 10:32 AM EDT

Bank of America (BAC) could be on the move today and is now at $12.12, down $.23 (-1.86%) on volume of 88,015,440 shares traded. BAC was covered in a Lee Allen report today. To read the report, go to www.marketintelligencecenter.com/la062509 . Over the last 52 weeks the stock has ranged from a low of $2.53 to a high of $39.50. Bank of America stock has been showing support around $11.91 and resistance in the $12.89 range. Technical indicators for the stock are neutral and S&P gives BAC a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on BAC the stock seems like it could be a candidate for an August out-of-the-money bear-call credit spread above the 15 range. [ABR-Seven Summits Strategic Investments NewsBite]

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