BAC: multi year flag patternBank of America is resuming trend on multi year flag pattern. Break out close today EOD
BAC
BAC to New Highs (at least since the housing collpase)After 12 weeks of consolidation BAC broke out last week. Suggested increase of 13.4% or around a $4.00 move.
Two things to keep in mind are:
1. The resistance that will be met at 33.05, the highest price since 2009
2. One week didn't touch the mode, usually I don't chart a consolidation unless every candle in the consolidation touches. This was otherwise a pretty nice consolidation so I went ahead with it anyways.
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Elliott Wave View Favors More Upside in BACBank of America (BAC) shows an incomplete bullish sequence from December 25,m 2018 low, favoring further upside. In the short term update below, the rally from March 26, 2019 low ($26.61) to $29.50 unfolded as an impulse and ended wave 1. The stock then pullback in wave 2 to $28.74 as an Elliott Wave zigzag structure. It has since resumed higher again within wave 3. Subdivision of wave 3 is in an impulse structure of a lesser degree.
Up from wave 2 low at $28.74, wave ((i)) ended at $30.32 and wave ((ii)) ended at $29. It still needs to break above wave ((i)) high at $30.32 to validate the view and avoid a double correction. Short term, as far as pullback stays above $28.74 in the first degree, expect BAC to extend higher. If pivot at $28.74 fails, then we can count the entire rally from March 26 low ($26.21) to $30.32 as wave 1. In this case, the stock then can do a wave 2 pullback in 3, 7, or 11 swing to correct the cycle from March 26 low before the rally resumes.
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JP Morgan: Uber IPO set for Thursday? Will JPM rob the bank? LYFT threaten to sue JPM over short-selling, yes, a company that loses money and sold for $25bn!
$30 in SightI'm looking for at least $30 in my case I need at least $30.10 for a call I made. My call closes Sept and it didn't take long to near my goal. The fear of yield curve inversion is legitimate but nothing is as quick and basing previous experiences on one indicator (which could be skewed based on current events: China, Brexit, the Fed etc..)
Most of the times from what I've gathered inversion brings about ATH's at least within the year. HOLD and try and play the game if you're down. I might consider a short position soon.
$BAC: Safe Swing Trade to the top!We have a potential safe and profitable swing trade with $BAC. Price has now pull back up over the 9 day and 26 avg lines and now looking for further upside. The monthly Ichimoku cloud also indicates further upside for the weeks or months to come.
An analysis, not an investment advice.
Trade SAFE, trade PATIENTLY & say NO to GREED.
GS: hybrid indicators show rotation patterns ahead of earningsGoldman Sachs is the most prominent Financial Services company at this time. GS also has a retracement correction pattern that has halted at a gap up support level, similar to BAC. The stock has had declining volume patterns for all of this year until recently during the sell mode. Hybrid indicators show rotation patterns.
BAC: Big banks kick off earnings season, often set the toneEarnings Season is approaching soon again. The Big Banks are usually the first industry to kick off the earnings season and often provide an indication of how the earnings season will play out. Checking the largest banks' trendline patterns shows more selling than buying. BAC had 4 big down days recently and is now hovering at a gap support level. The bank may initiate buybacks to support the stock.
Warning signal for U.S stocks? Pay close attention to XLF today (FOMC) - Although it is currently testing support there's an option for a false break signal here.
If XLF won't close in green today after Powell's message, this can be a trigger for another short term wave (and potentially even a strong one) in U.S stock markets.
BAC MAJOR DROP?see alot of candle rejection from resistance level and a double top BAC can potentially drop to 23.80 ish where support level is near and shoot back up on the up trend
Bank of America is a leading indicator of a bear marketWe can clearly see that bank of America has always been a leading indicator of a bear market since it starts falling before the S&P 500
Bank of AmericaA new head and shoulders pattern seems to be in formation as we have started creating our right shoulder.
The bullish leg we recently had, has come to an end as price reaches resistance (which is proving to hold strong).
From here Im looking at a take profit region around the neckline of our formation and if it is broken successfully then the extended tp has also been added to the chart
BAC Short Trade PlanBank of America SHORT TRADE SETUP
Chart is self explanatory I think.
Accumulation zone is mentioned along with Stop Loss and TP Price Points
Exploding into resistance after earningsGS is up 8% today following positive reports.
Notice the resistance zone that is waiting for GS between 200 and 210
BANK OF AMERICA CORPORATION (BAC): Start Of The Last Subwave?Find Winning Trades In Seconds >> efcindicator.com (Special Discount)
It seems that we have not yet reached the end of this correction. More dips are expected.
Bank Of America | Earnings will be bearishLooking at BAC Morgans chart.
The SQZ indicator continues to turn hard green. Indicating further down side.
The stock has been ascending on descending volume. Bearish sentiment.
The MacD is about to have a bearish crossover.
The chart follows the bearish sentiment that is seen across the market.
Bank Of America facing a bearish mode?Some investors are looking for bonds instead of the banking loans (just for a while). Bank Of America is one of them, also they're going to report on October 15th, so the market is considering a better price for buying. Keep in mind that Wall Street is looking for a target of around $34. In my case, I'd like to see a real buying opportunity below $26.
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