Bank of America Corporation (NYSE: BAC) — The stock is considerably higher than its bear market low at under $3 a share.
Since September 2009, the stock has been trading in a consolidation pattern following its big move to the high teens. But following that advance, BAC slid into a decline that has taken it to its major support line at $15.
On Friday, the stock issued one of our internal Collins-Bollinger Reversal (CBR) buy signals, and yesterday, the stochastic indicator triggered another buy signal.
The trading target is $18, but longer term, Standard & Poor’s rates BAC a “five-star strong buy” with a 12-month target of $22.
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