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BAC

Buy the Banks, Suckers!Every time I turn on CNBC, FBN, or the like, I hear a pundit or analyst pounding the table to "buy the banks." The go on to ramble a spiel about low valuation rations (P/B, P/E, P/FCF, etc), rising rate environments, yield curve inversions, and other reasons that they should outperform the markets going forward. But who's biting? A quick glance at the SPDR financial ETF - XLF - and you will likely arrive at the conclusion that this is a sell, not a buy. We've broken short term trends (red dotted lines), intermediate term trend (orange dotted line) from 2016 lows, and are approaching a trend line (green dotted line) from the recession lows nearly a decade ago. Even worse, it looks to have formed a double top at the $30 level, the first peak coming in 2007. Until there's a bid to reverse trend, this is a hard sell. Support looks to come in around $25. If that fails, the next support is around $21, but that's crash-level support. Of course, one must ponder... if the banks are rolling over, how well can the broader markets hold up? Is this the warning shots of a larger correction in the markets? Hmm...
AMEX:XLFShort
by EchoAlphaBravo
1
Bank of America turning bullishAs we can see, BAC has broken out of the corrective downtrend, with three consecutive green candles. Not quite three white soldiers, since they are more spinning tops, but they are a bullish sign nonetheless. We broke through the $30.00 price point a few times today, but tomorrow we will need to get above it with some conviction in order to let it become support for our impulse up. Fundamental factors should lead to a bullish market sentiment in regards to BAC. Reported earnings were stronger than expected, and analysts predict 40% more expansion this year. Overall market apprehension seems to be keeping price action at bay for the moment, setting up a nice buy opportunity in my opinion. Lets see what tomorrow brings.
NYSE:BAC
by dcattey
1
Bearish SignalsFirst off, I'm not the best @ TA, so I would appreciate it if a mistake is seen - please tell. Multiple bearish signals on Ichimoku cloud, RSI, MACD. Very similar pattern is evident on GS & MS. Default rates on student loans, retail, & personal are climbing. Combined with a mediocre jobs report, this spells out trouble for banks. However, to me, the most important thing is that big banks have continued to do sub-prime loans. They are the loaners of the loaners of the loaners. Many 2nd & 3rd tier subprime loaners have defaulted and declared bankruptcy. This is not good news for big banks, who, in my opinion, have got greedy, again. On top of this, banks did not do exceptionally well in earnings considering the tax cuts of President Trump. Nearly $200B in likely exposure, at minimum, for the top 6 big banks alone. wolfstreet.com wolfstreet.com (I quite like wolfstreet, very well researched analysis, reasonable article, in my opinion) www.forbes.com
NYSE:BACShort
by GainMachine
BAC 5-Day-Ahead Prediction - 04/11-04/17 PeriodArtificial Intelligence/Deep Learning Enabled 5 Day Ahead Predicted values for Bank of America Corp ( BAC ) have been plotted on the chart. The method used in this prediction is Deep Learning based, and using complex mathematical models/methodologies to extract hidden time series features in vast amounts of BAC related data. The expected 5 Day Change is 1.177 % Predictability Indicator is calculated as : 0.838 Predicted 5-Day Ahead Prices are as follows: Wed Apr 11 Thu Apr 12 Fri Apr 13 Mon Apr 16 Tue Apr 17 30.751 30.727 30.702 30.773 30.838 Please note that outliers/non-linearities might occur, however our Artificial Intelligence/Deep Learning Enabled predictions indicate the softened/smoothed moving direction of the stocks/commodities/World indices/ETFs/Foreign Currencies/Cryptocurrencies. Feel free to contact us for your questions.
NYSE:BACLong
by AhmetSBilgin
Raising interest rates support this pickYou do not need to be a sophisticated Ph.D. in Economics for understand that Raising interest rates is a god deal for commercial Banks but this do not mean than all the commercial Banks and financial Institutions are in a Bull Trend specially because this sector was punishment during the last financial crisis of 2008 and until recently has begun to show strength based mainly in a Raising interest rates. I Set up a list of more than 140 commercial Banks and Institutions and not all are having a good time. I select this Bank based in a Basic Understanding of the Fundamentals who move the Stock Market and the Industries and your Sectors. But always making emphasis in the Chart and with a simple and traditional Technical Analysis (Support and Resistance) Obviously this pick is with a long term view and with a long term hold period Now Go to Technical: In this case you can watch the resistance breakout around 25.00 or 25.10 "do not get complicated for 0.10" and the pullback who is coming. The pullback need more time, this means need more Days for confirmation, In other words I wanna to Buy this stock at 25.30 or less and not at the actual price of 26.40 for this you can use a order called Buy limit at 25.30 or follow daily this stock and buy at the market . The other aspect is this do you like this PE Ratio 15.11? Is too High ? compared with the Industry Is Bank of America overvalued ? Additional Material for learning www.investopedia.com www.investopedia.com www.investopedia.com www.investopedia.com
NYSE:BACLong
by Alex_Quiroga
1
$XLF Is the Financial Pullback Something More? (includes video)U.S. financial stocks have been in pullback mode this week despite the SPX moving higher. Considering that financial stocks had been a big boost to market gains over the last several months, this could be concerning. The XLF is down about 3% - and regional banks KRE down 6% - since the recent top. Let's put this move into context, shall we? As MacroView as posted before, financial stocks really began to rally in early Sept just as the 10s/fed funds curve bottoms around 90 basis points. The correlation has been rather strong between .65 to .93. In our view, the curve and financials rallied on two things: markets were trying to price higher inflation (we saw this as the long-end steepened) vis-a-vie higher commodity prices. Then, markets were anticipating Pres. Trump nominating John Taylor as the next fed chair, who would be uber hawkish. We were happy to take the other side of that bet. Powell is dovish. In turn, we saw yields and copper, particularly, head lower. The 10s/fed funds rate topped out at 131 basis points and began to trade lower on the above events. Price action in XLF and KRE weakened and the pullback ensued. Click the here to listen to where support may be found and whether or not financials and the curve will rebound. Check us out on twitter @macro_view
AMEX:XLF
by MacroView_TrendFlex
Bank Of America Buy IdeaD1 - Price moving inside range, bullish divergence is forming. H4 - If we get this H4 cycle inside the D1 range we can look for buys in the short term, as long as the bottom of the range is holding. There is already divergence and price reacted from the 61.8% fibo retracement D1 - Bearish Scenario In case the range is broken down we can expect the price to move lower towards the 18-19 zone If we get a confirmed breakout we can look for sells towards the next level.
NYSE:BACShort
by VladimirRibakov