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Monday, July 13, 2009 

Banking stocks to watch tomorrow : Goldman Sachs Group and Bank Bank Of America Corporation

Chart courtesy of www.stockcharts.com ( click to enlarge )

GS - The stock may face strong resistance at 150.27, above it may test 151.17. This stock will move quickly and is very volatile, so be careful with your share size and entry price. Optimum buy point is when price crosses the resistance line at 150.27. The short-term outlook for GS is neutral to bullish ( all the trends in stock indicators are neutral or positive ).

Chart courtesy of www.stockcharts.com ( click to enlarge )

BAC - The short-term outlook for the stock is Bullish. In the last trading session, the stock broke through its 200-day moving average and closed up $1,11 at $12.99. BAC is now above 50 day and 200 day moving average and if the upward trend can continue for another month or weeks, and 50 day moving average can cross on top over 200 day moving average than the stock will be ready for another big rally. The chart above inspire me some confidence and I think the stock could continue its upward trajectory. Further rise could be seen to 13.69 zone this week. Initial support is located at 12.48 level. As long as this level holds, the uptrend will continue.

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.

That's all Folks. See you tomorrow !!!

AC

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  • I'm a 43 year old Independent Trader using proprietary technical analysis with more than 18 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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