A Double Wedge Break For Bank of America



Bank of America (BAC) is starting the New Year with a breakout on the price chart and surge in the StockCharts Technical Rank (SCTR). The SCTR is up over 15 points and back above 70, which made it easy to spot on the SCTR table when sorted by change. On the price chart, BAC broke wedge resistance in mid December, formed a smaller wedge and broke out again today.

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Click this image for a live chart

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