Bank Of America Ready To Make A 100% Move?

It almost sounds insane just saying it, but based on the latest market movements and technical outlook, Bank of America (BAC) making a 100% move here is not out of the realm of possibilities.

Although my 2nd quarter results of my 4 stocks to buy in 2009 were way above average with 41%, Bank of America was really the only stock preventing that number from being much higher; however, it looks like it may be gearing up to be my closer.

Sourcing the stock chart, it looks like Bank of America is ready to burst out of its wedge or bounce down.

If we can see a break above the resistance, then the textbook price target should be $27. Nearly 100%. New support is now $15, and a your stop would be a break back down below the support.

Get your dream house ready because we are about to be printing cash here.

Check out what INO’s Free Trend Analyzer has to say about Bank of America.

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