Bank of America - Top Performing Bank

Published on Monday, 23 January 2012 16:46 Written by Christopher Lynn

New York, January 23rd (TradersHuddle.com) - The KBW Bank Index closed higher at $43.6, which represents 0.23% from its previous close. The bank index had an overall mixed day with 15 index components closing higher.

Bank of America (NYSE:BAC) was the top performer of the banking index, closing at $7.25 representing 2.55%. versus the previous trading session. Shares of Bank of America, the largest U.S. lender have defined support at $6.41 and resistance at $7.29.

Fifth Third (NASDAQ:FITB) was also among the top performers, closing at $13.4 representing 1.75% from its previous close. Fifth Third, the regional bank with presence in the Midwest and Southeast of the U.S. has calculated support and resistance levels at $11.67 and $13.96 respectively. The other top performer was Bank of New York Mellon (NYSE:BK), which traded at $21.64 representing 1.69% from the previous trading session.

The bank's worst performers include KeyCorp (NYSE:KEY) that closed at $8.11 or -2.29% from the previous close. Shares of KeyCorp, the regional bank headquartered in Cleveland, Ohio have defined support at $7.00 and resistance at $8.44. Also among the worst performers was Huntington Bancshares (NASDAQ:HBAN), which is currently trading at $5.82 representing -1.69% from the previous trading session.

Today, the banks outperformed the broad market index S&P 500.