reported net interest income advancing 11%. Like Wells Fargo, Bank of America is a major corporate lender, and the market was already anticipating that solid results await. The bank's most recent credit card data from June showed strong consumer spending that should buffer Q2 results. Management said June, and that the delinquency rate remained flat with May at 0.84%, down from 0.97% one year ago.has been trading within a descending wedge structure since at least February.
One positive sign on the chart is that the Accumulation/Distribution line has been heading higher since mid-June. The indicator needs to eclipse -9.6 billion though to really show promise.shows how far shares have fallen since producing a double-top formation at $50 back in January and February. Before BAC makes it anywhere close to $50 , further resistance sits at $44.25. The 15-week and 30-week MAs show that there should be resistance near $35 and $40 as well.
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