We are beginning to see less and less sellers of beaten down financial stocks as indicated by the side way consolidation on the daily charts. Buyers are more and more willing to hold on to these stocks which they bought at fire-sale prices as they are less transcations between buyers and sellers as indicated by the dropping volume.
The odds are for the prices to move higher from here before the "real" resistance at the area between the 50day MA and just below the clouds. Please also see this post on bigger time-frame buyers coming into the picture.
Bank of America - Target price between $9.50 and $10. Stop loss for BAC at $7.95.
Citigroup
The odds are for the prices to move higher from here before the "real" resistance at the area between the 50day MA and just below the clouds. Please also see this post on bigger time-frame buyers coming into the picture.
Bank of America - Target price between $9.50 and $10. Stop loss for BAC at $7.95.
Citigroup
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