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

Posted: Thursday, October 29, 2009 10:27 AM EDT

Bank of America (BAC) could be on the move today and is now at $15.29, up $0.28 (1.87%) on volume of 37,008,384 shares traded. Over the last 52 weeks the stock has ranged from a low of $2.53 to a high of $24.62. BAC was covered in a Lee Allen report today. To read the report, go to www.marketintelligencecenter.com/la102909 . Bank of America stock has been showing support around $14.70 and resistance in the $15.60 range. Technical indicators for the stock are bullish and S&P gives BAC a positive 5 STARS (out of 5) strong buy ranking. If you are looking for a hedged play on BAC the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 12.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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