Bank of America's Q4 Revenue Exceeds Analyst Expectations

Bank of America announced its fourth-quarter earnings for last year,

which exceeded analysts' expectations, according to reports.

Bank of America's revenue reached over $28 billion,

while analysts had predicted around $27 billion.

The stock gained 98 cents,

while expectations were around 96 cents.

Despite the bank's strong results, the market witnessed a sharp decline

 in the stock's price due to Trump's negative statements that impacted the US banking sector.

Technical Outlook for the Stock

The stock is currently trading near $51.88, which is close to strong buying pressure.

We expect to see an upward move from this level if bullish price action emerges.

If the price rises, we may see a retest of the $53.84 and $56.66 levels.

If the stock continues its downward trend, we might see a test of the $49 level.

This is a significant and strong support level from which we might see a rebound.