So far 2012 has been a pretty good year for Bank of America (BAC). The stock is up 46% year to date, and it looks like the financial stock might just be getting started.
Just quickly looking at the chart you can see that Bank of America closed above the 200 day moving average, which is a very bullish indicator. We also have the 50 day moving average getting close to crossing back on top of the the 200 day moving average, which is bullish as well.
As a word of caution – remember that this is a financial stock, so keep stops tight because they can drop as fast as they climb.
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Bank of America Mortgage Settlement
(Wealth Daily, 6/4/13)
(BAC) Bank of America Corporation’s Ratings Affirmed by Fitch
(Stock Blog Hub, 5/23/13)
(BAC) Bank of America Gets Approval for Settlement
(Stock Blog Hub, 4/18/13)