Bank of America outlook on September 1, 2014

The trend is up on the daily. Some support @ $16 after it broke out of the $15-16 range last week. Its relative strength compared to other parts of the market is not there, so it has to cover a lot of ground in the next weeks to become our favorite. Longer-term, BAC seems to be in a consolidation phase (cannot call it topping phase yet) after its huge gains in the last few years.

BAC_20140901

Chart courtesy of StockCharts.com. http://stockcharts.com

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