Bank of America climbs within descending price channel - Analysis - 17-10-2018

Bank of America's stock rose in the intraday levels while trading within a descending correctional price channel that guided recent short-term trading as shown in the attached chart, after the important support of 27.81 held on, scoring a final profit of 2.18% in the last session, or 0.61 points, while countered with negative pressure from the 50-day SMA. 

Therefore we stand neutral until the stock moves on the support of 27.81, and in case of a breach, it would double pressures on the stock, targeting the next support at 26.48. 

Expected trend for today: Neutral