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Bank of America

$BAC Lays the Groundwork for a Binary-Outcome Range

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BAC offers a good example of the value of perceiving the big picture in terms of technicals, with key pivots coming at very obvious points in the chart narrative.

Right now, we may be defining an extended period pinned between $18-28, where we have long-term support and resistance, net-interest margins at razor-thin levels, and no conviction about the future.

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