Shares of Bank of America (NYSE:BAC) moved above a major resistance level at $32.70 on Monday. This is a technical breakout (assuming the stock can hold above into the market close on Monday). The breakout has an upside measured target of $35.15 and could be seen within a week or two. Once there, the stock will pull back and can be taken as a swing trade short. Financial stocks continue to hold up well as interest rates stay steady on the 10 year bond near 3%. Higher interest rates mean more profit for financial institutions.
