Chart of The week: Bank of America
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Bank of America won the chart of the week competition, and it is fairly easy to see from the chart below, just why. The stock has cearly broken above resistance around $25.50. The stock is trading at levels not seen since 2008, and lack of potential resistance between the stock current price and $40 are few. It should create opportunities for the stock to continue rise.
We can see a similar pattern has developed in a chart of the Financial Selector SPDR ($XLF) as well.
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Tesla
Tesla is finding a bounce off its 200 DMA. Could be a huge bounce too.
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S&P 500
The S&P 500 has clearly broken out, and will likely be heading towards 2,600.
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Michael Kramer and the clients of Mott Capital own shares of Tesla
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