Strong Bank of America Earnings Drive Shares Higher

Bank of America announced second-quarter earnings

which exceeded analysts' expectations, with net income reaching

more than $7 billion, and revenue up 4%,

bringing total revenue to date to more than $26 billion.

Earnings per share reached $0.89.

Chairman Brian Moynihan said..

"We delivered another strong quarter with higher earnings per share.

Net interest income rose for the fourth consecutive quarter,

reflecting eight consecutive quarters of deposit growth.

It also reflected 7% year-over-year loan growth."

Shares of Bank of America also rose,

up 2.5%, and could rise further in the long term.

Technical Analysis of the Stock

The stock is still moving in a strong general upward trend.

Expectations continue to indicate a continued upward trend in the long term.

Currently, there is a correction wave on the stock that may extend

 to areas of strong buying demand near the 45.20 level.

From there, we are expected to witness a return to the stock's upward trend,

 reaching targets at the 47 and 49 levels, respectively.