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Bankofamerica

Banks Bottomed?Back in March, all we could read about was the "Banking Crisis" whether it was written by mainstream financial media or Bitcoin Maxi blogs. Truly, the great end of the US Dollar was upon us finally, right? Well, like all panics, the fear abates and we can now see that said crisis amounted to only 3 banks failing for specific and now well understood reasons. First, the trade. I went with a bottom play "TS Recap" on the Daily of TFC (title picture). I am play the low from March 15th as the line in the sand and stop loss. It goes up from here or it doesn't and I'm out. Pretty straightforward. There was a similar setup that is progressing a bit faster in BAC (Bank of America) but I preferred TFC for the dividend yield. Now, Let's talk Asset Narratives Asset narratives, both positive and negative, come around in different industries from year to year. Now in 2023 we have the "Banking Crisis" that has affected all non-too-big-to-fail banks. What is an "Asset Narrative? The most recent contrarian narrative trade comes to my mind... Energy of 2021. Remember 2021? Electric Vehicles were all the rage, they were going to replace all gas powered vehicles in the very, very near future. The smartest of experts were all telling people to divest from anything oil related. Oil was going the way of the dinosaur! Dirty energy was the most hated asset class. Oil futures even dropped below $0. Oil was FREE it was so devalued! People were GIVING IT AWAY! The comfortable trade of 2021 was to buy Electric Vehicle stocks and IPOs. It may have felt good at the time but does not feel good now to be a bagholder. I gas-lighted myself (pun intended) thinking I was crazy to buy XOM (just read the post title below). My reasoning was sound: oil was still very much necessary to our economy. Oil companies were still in the business of producing it. They clearly had lots of value. Why were they so cheap? It seemed like an obvious trade but almost TOO obvious. It was very uncomfortable to take the trade. Taking risk involves uncertainty and makes us uncomfortable. Early in my trading career I thought that one day I would become so accustomed to taking risk that I would be completely unaffected when putting on a trade. That never happened. Instead, I became comfortable with discomfort. These kinds of narratives come around once a year and in hindsight seem obvious. So now is that narrative for 2023 banking? I think it is. There are a lot of intelligent, reasonable, and well articulated REASONS that banks should be marked down. But that's where real opportunity lies... where is it not apparent.
NYSE:TFCLong
by norok
2
BAC - long term short target in 2+ zoneBAC has similar to MS setup though looks to have started wave 3 of circle wave 1 already. Expect to see circle wave 1 landing somewhere in 15+ zone before a pullback in circle wave 2 sometime in 2026. Bear in mind this is the view on the financial sector, which imo is leading the market and can be used as a benchmark for the US economy. Major stocks (big tech, consumer staples, etc) still have a great chance to post new highs either in 2024 (AAPL) or 2026 (GOOGL).
NYSE:BACShort
by Vyaz
$BAC Technical Analysis: Key Levels to Watch Ahead of EarningsIn this video, we'll take a closer look at the technical analysis of Bank of America ( NYSE:BAC ) ahead of earnings and identify key levels to watch. Starting with the weekly chart, we'll analyze the overall trend and momentum of the stock. Moving to the daily chart, we'll look at recent price action and important levels of support and resistance. Next, we'll examine the 4-hour chart for any short-term trends or patterns. Finally, we'll analyze the 1-hour chart to identify potential entry and exit points for traders. By the end of this video, you'll have a better understanding of the technical outlook for NYSE:BAC and key levels to watch ahead of earnings.
NYSE:BAC
by Entrenched
9
JPM / JP Morgan - Don't Gamble On Regional BanksI know that whenever something drops by 30 or 50 or 70 percent in one or two days it seems like you might be able to smash buy and ride the bounce back to the top, but just take a look at how well that worked out for tech stocks once the market started to correct at the end of 2021, or just take a look at how well that worked for Silicon Valley Bank dip buyers who found their shares worth $0 in a few hours. JP Morgan and the other big American banks aren't just "big American banks," but the financial arm of the United States' military industrial complex. Moreover, they're something that's become a pillar of the entire world's financial ecosystem. The heart of the world's economy is in Manhattan, but they're also the ones responsible for providing a financial life line (a blood transfusion) to the Chinese Communist Party all of these years. Here's some things everyone should think about: 1. Regional banks are not a buy, because they need to be eliminated for Central Bank Digital Currencies 2. SWIFT itself is expanding its CBDC platform pilot globally after a test run that involved a JP Morgan-created centralized fork of Ethereum . 3. CBDCs are required for the global implementation of the CCP's social credit credit system 4. CBDCs mean citizen and small business banking becomes centralized in Federal Reserve proxy accounts ran through the biggest banks 5. Welcome to communism. The purpose of all of this is to install communism for the purposes of attempting to change the human living condition. Credit Suisse is probably going to implode for real and that's going to cause some chaos for the markets. This play is pretty much a mirror of the 2008 GFC with Bear Sterns, which everyone would do well to educate themselves on how that went down . The problem with Central Bank QE isn't all the Libertarian crap you've been told. The problem is that deposits are a liability for banks because they have to pay interest on them, and so they need to seek yield. Seeking yield on a very large position is very hard, because guys like JPM and Blackrock and Vanguard happen to make the markets, and markets are a euphemism for a casino, and casinos are zero sum games where there's a small number of winners and a large number of losers. And so when there's no interest rates, banks have to take risks to generate cashflow to pay interest to the very, very large depositors. When QE was hot that seemed to have meant long bonds, long equities. And then the Fed raised rates 5 percent while they were holding a lot of equities and bonds and now those bonds and equities aren't worth very much. So they're red on their positions and can't HODL through it because of bank runs and go under. It's as simple as that and it was an engineered play for smaller banks to be destroyed and then the big banks buy the liquidations. It's the same as how whales kill sharks by holding them upside down in the water, which makes them disoriented and paralyzed, and then the whales eat their livers and leave them to die. JPM on the monthly is not likely to have topped and gives you no reason to think there's a financial crash or any real bearishness brewing: Yet the weekly shows you confluence between Fib levels and gaps, and that it's just too early to go long, and kind of scary to scalp short to boot: JPM's double tops at $145 made very little sense at the time, and that's because, in my opinion, they were short their own stock under $150 in anticipation of what everyone who's running big data analysis for real knew, that SIVB and SBNY and SI would collapse, that CS was a bloated corpse in the river that the Swiss National Bank couldn't save, and that it was time to start taking down the regional banks by using the crisis as an opportunity. Naturally, being a bank and part of the sector, this will give grounds to make JPM's shares drop, so they just sell, and then buy back, and then give themselves bonuses and go for happy hour with cocaine and strippers when the drama is over because someone buys CS and the Fed pauses hikes, and they pump their own stock back to $200. Another thing is that the narrative is that equities are *going2themoon* because the Federal Reserve just HAS to stop hiking rates now. Look at how much damage the rate hikes caused! They just have to stop hiking now! They probably won't. FOMC hasn't led to a dumpster fire in quite a few months and you should be concerned about that. After Wednesday's FOMC, the next one afterwards is May 2. Expect them to pivot then, not now, and for May, June, July to become another "most hated rally" for bears. Except this time it won't be a bear market rally, but a bump and run reversal, that pumps tech and other dumpster trash to a new ATH that makes bears blow their accounts. Look for longs in the $110 range on JPM and expect the October bottom to hold, because it's called a pivot for a reason, sons. It's JP Morgan. This kind of disaster in the markets today was arranged by them, and is not something they're personally subject to. The disasters that lie ahead for the current regime because of what they've been doing to help the CCP as it persecutes Falun Gong over the last 24 years are retribution that they haven't arranged and that nobody can dodge, and something that will catch the entire market off guard. But for now, you can get $40 a share if you buy in the $110s and sell at $150. And the time horizon is probably literally no later than the end of May, too. Don't go long on regional banks. Go long on the big banks. And then get out and be careful, because everything in this world is about to change very quickly, and human beings are not going to be able to bear the terribleness of what happens when the regime goes to install communism worldwide.
Editors' picks
NYSE:JPMLong
by LordWrymouth
11
💰 A LITTLE MORE DOWN AND THE FED WILL BEGIN TO SAVE THE BANKS 📣 Hello everyone! I believe that the entire growth up to 2006 is the first impulse wave of the cycle, which stretched for about 33 years. From 2006 to 2009, the ABC zigzag in the wave of the second cycle adjusted the entire growth by -95%, pushing the price of Bank of America shares back 25 years. I am now considering with a hypothesis the completion of the correction of the wave-the second cycle in 2009, and all subsequent market activity is part of a complex segmented impulse wave iii of the cycle. Accordingly, I believe that the decline in the shares of the second bank in the United States, which began in 2022, will continue in 2023, and moreover, the decline has already begun. But according to the hypothesis I am considering, I am more inclined to believe that the downward trend, that is, this ABC zigzag will end in the area of wave-4, which is part of wave 3 of the higher intermediate level. After that, it would be logical to expect a trend reversal and the beginning of growth in the impulse wave-5 of the intermediate level with a goal of $ 62 per share approximately in 2024/2025. The cancellation of the scenario I am considering will be a breakdown and consolidation below the level of $ 19.86, that is, the completion of wave-4 below this level. 😱 If the price is fixed below this level, it is likely that the fall may continue up to $ 2 per share, so it is worth paying attention to this key level now. ⚡️ ⚠️ As always, I wish you good luck in making independent trading decisions and profit ✊ Goodbye!
NYSE:BACLong
by AnonymousTraderAcademy
Further Bank of America drops anticipated. BACShorting Bank of America a bit more, we just need to reach some of those Fibonacci goals. We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Confirmation level, where relevant, is a pink dotted, finite line. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe.
NYSE:BACShort
by Rykin_Capital
KBE: S&P500 / BANK RUNS / RSI / MACD / DIVERGENCE / BANK CRISIS DESCRIPTION: The chart above shows a relationship between KBE & SPX which is important for the current ongoing banking issues. KBE is a BANK ETF that reflects the overall performance of the banking sector in the United States. At the moment there is a major discrepancy between KBE & SPX value. Normally there is a consistent relationship between the banking sector performance and SPX value but one will have to give in eventually. POINTS: 1. Deviation is 6.25 Point difference & represent crucial points of control for price action. 2. Vertical Orange Lines represent peak price action for S&P 500 & KBE before correction. 3. AVERAGE CORRECTION OF 12% ON KBE DURING BEAR MARKET. RSI: Overextended from RSI AVERAGE banking sector can see some pullback in the coming days. MACD: Currently in EXTREMELY OVERSOLD TERRITORY on MACD FULL CHART LINK: www.tradingview.com AMEX:KBE SP:SPX
AMEX:KBEShort
by DGSTBROKERACC
Bank of America (BAC) Shows Bearish Elliott Wave SequenceBank of America (BAC) shows a lower low bearish sequence from 1.10.2022 high favoring further downside in the stock. Near term, cycle from 2.8.2023 high is in progress as a 5 waves Elliott Wave impulse. Down from 2.8.2023 high, wave 1 ended at 33 and rally in wave 2 ended at 34.56 as the 1 hour chart below shows. The stock resumes lower in wave 3 with internal subdivision as another 5 waves impulse in lesser degree. Down from wave 2, wave ((i)) ended at 32.8 and rally in wave ((ii)) ended at 33.15. Stock resumes lower in wave ((iii)) towards 30.08 and wave ((iv)) ended at 30.81. Final leg lower wave ((v)) ended at 28.92 which completed wave 3 in higher degree. Wave 4 rally ended at 31.50 with internal subdivision as a zigzag. Up from wave 3, wave ((a)) ended at 31.04 and wave ((b)) ended at 29.95. Third leg wave ((c)) ended at 31.50 which completed wave 4. Stock resumes lower in wave 5 with internal as a diagonal. Down from wave 4, wave ((i)) ended at 28.10 and wave ((ii)) ended at 31.05. Wave ((iii)) ended at 27.87 and wave ((iv)) rally ended at 30.57. Expect the stock to end wave ((v)) of 5 soon and this should complete cycle from 2.8.2023 as wave (1). Afterwards, stock should rally in wave (2) to correct cycle from 2.8.2023 high before the decline resumes. As far as pivot at 34.56 stays intact, expect rally to fail in 3, 7, or 11 swings for further downside.
NYSE:BAC
by Elliottwave-Forecast
💾 Bank of America Corporation Worst Since 2008 | Major CrashNumber two is Bank of America, this one looks even worst than JP Morgan Chase. No introduction needed as I already did it with JPM but if you missed the other article let me just say that we are likely entering a "Bank Holiday" period. Bank Holiday refers to the process of the bankers celebrating as the wealth of 20-40% of the worlds population vanishes. Ok, the chart: ✔️ Bank of America peaked February 2022 and last month produced a year long lower high. ✔️ This week BAC produced the highest selling volume since June 2020. ✔️ BAC closed Friday below MA200 and EMA300 in a single candle. ✔️ It was already trading below EMA50, EMA100, etc. ✔️ The MACD did a bearish cross while moving below zero... Double whammy. ✔️ The RSI is already weak and gaining bearish momentum. While everything burns, the executives will pay themselves millions and millions and millions of dollars in bonuses... People will lose everything. We will see if Crypto will save the day or if it will also go down together with the whale banks. Or maybe they will decide to print 5 Trillion USD to bailout the banks out and everything... Namaste.
NYSE:BACShort
by AlanSantana
7
Bank of America (BAC) A great potential for the mid-term Bank of America is one of the largest banks in the United States, with more than 4,000 branches and 16,000 ATMs located across the country. In 2008-2009, the bank was among the many banks that required a government bailout during the financial crisis. Despite these controversies, Bank of America remains a major force in the banking industry and continues to be a trusted financial institution for millions of customers. ⛓Technical analysis We may see a drop of up to 5% in the coming weeks before the recovery that should take place in the first 2 quarters of the year. Trade safe!
NYSE:BACLong
by pridefulDove59918
Bank of America's profit faltered by 14% in 2022Another big bank that reported its earnings on the past Friday is Bank of America. The bank generated $27.5 billion in net profit and $95 billion in revenue for the full-year 2022. Its net income decreased by 14%, and revenue rose by 6.6%. The net interest income jumped by 22%, and the noninterest income dropped by 8%. The Consumer Banking segment added over 1 million checking accounts and reached a record of 3.5 million consumer investment accounts. At the same time, it experienced net inflows from clients worth $28 billion and a jump in digital sales by 22% versus 2021. The Global Banking division experienced a 38% increase in revenue and saw a growth in average loans and leases of 14%. BofA’s Global Wealth and Investment Management segment gained more than 119 000 accounts and saw $87 billion in client inflows for the entire year. More importantly, it is on a streak of 51 consecutive quarters of average loan and lease growth. The Global Markets division saw the highest revenue and sales since 2010. In addition to that, its average loans grew by 28% year over year. Illustration 1.01 Illustration 1.01 shows the daily chart of Bank of America stock, which declined more than 26% in 2022. 2022 (full-year) vs. 2021 (full-year) Net income = $27.5 billion (vs. $32 billion in 2021; -14% YoY) Net interest income = $52.4 billion (vs. $42.9 billion in 2021; +22% YoY) Noninterest income = $42.5 billion (vs. $46.2 billion in 2021; -8% YoY) Revenue = $95 billion (vs. $89.1 billion in 2021; +6.6% YoY) Noninterest expenses = $61.4 billion (vs. $59.7 billion in 2021; +2.8% YoY) Provision for credit losses = $2.5 billion (vs. $-4.6 billion in 2021) 4Q 2022 vs. 4Q 2021 (year over year) Net income 4Q22 = $7.1 billion (vs. $7 billion in 4Q21; +1.4% YoY) Net revenue 4Q22 = $24.5 billion (vs. $22 billion in 4Q21; +11%. YoY) Net interest income 4Q22 = $14.7 billion (+48% YoY) Noninterest income 4Q22 = $9.8 billion (-8% YoY) Noninterest expenses 4Q22 = $15.5 billion ( +6% YoY) Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
NYSE:BAC
by Tradersweekly
12
BAC - Price Targets & Stop Loss📈 What’s up investors! 📉 Welcome back to another one of 💡“Mike’s Ideas”.💡 I post as I find signals… these signals are based on the personal rules I have built and follow in order to make up what I call the “SST Strategy”. Follow for more ideas in the future!! I have 4 levels marked and colour coded on the Chart. These levels are: ⚪ White = Entry Point 🔴 Red = Stop Loss 🟢 Green = 1.2:1 Risk Reward Ratio 🟡 Yellow = 1.5:1 Risk Reward Ratio 🔵 Blue = 2:1 Risk Reward Ratio 👀 So what are we looking at today…!!! 🚨( BAC ) Bank of America Corporation🚨 Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. Its Consumer Banking segment offers traditional and money market savings accounts, certificates of deposit and IRAs, noninterest-and interest-bearing checking accounts, and investment accounts and products; and credit and debit cards, residential mortgages, and home equity loans, as well as direct and indirect loans, such as automotive, recreational vehicle, and consumer personal loans. The company's Global Wealth & Investment Management segment offers investment management, brokerage, banking, and trust and retirement products and services; and wealth management solutions, as well as customized solutions, including specialty asset management services. Its Global Banking segment provides lending products and services, including commercial loans, leases, commitment facilities, trade finance, and commercial real estate and asset-based lending; treasury solutions, such as treasury management, foreign exchange, and short-term investing options and merchant services; working capital management solutions; and debt and equity underwriting and distribution, and merger-related and other advisory services. The company's Global Markets segment offers market-making, financing, securities clearing, settlement, and custody services, as well as risk management products using interest rate, equity, credit, currency and commodity derivatives, foreign exchange, fixed-income, and mortgage-related products. As of December 31, 2021, it served approximately 67 million consumer and small business clients with approximately 4,200 retail financial centers; approximately 16,000 ATMs; and digital banking platforms with approximately 41 million active users. The company was founded in 1784 and is based in Charlotte, North Carolina.
NYSE:BACLong
by sststrategy
BANK OF AMERICA One last low and off to the races?Bank of America (BAC) got heavily rejected in early November on its 1W MA50 (blue trend-line) and hasn't recovered since, staying for the whole December below even the 1W MA200 (orange trend-line). This is not the first time we see such price action from Bank of America. As you see on this chart, ever since the November 2011 Low, the stock has been trading within a Fibonacci Channel, with the extensions serving as very accurate Resistance and Support levels. We have seen 1W MA50 rejections after strong corrections in April 2016 and June 2020. Each of those times, the price hit the Buy Zone (green) before rebounding to a Higher High, while the RSI on the 1M time-frame hit the 38.80 Support. The 1M MA100 (red trend-line), which on March 2020 provided Support, is currently exactly at the top of the 10 year Buy Zone. As a result, BAC is a buy opportunity, either on the next Low, or if it doesn't make and rebound earlier, if we close a month above the 1W MA50. As far as a long-term target is concerned, the first Higher High on the Fibonacci scale was made on Fib 2.0 (March 2014), the second on Fib 4.0 (March 2018) and the third on Fib 6.0 (January 2022). Investors could hold, based on this sequence, until the 8.0 Fibonacci extension. ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NYSE:BAC
by TradingShot
1
Bank of America Corporation Multi Year Correction Targets 23/25 Bank of America Corporation (BAC) grew through Covid as must banks did. After an impulse comes a correction. - The bullish wave is shown here as an EW 12345 Impulse. - Long-term EW ABC correction now taking place. POTENTIAL TARGET/SUPPORT ZONE The low can be set at 23-35. At or below the 0.786 Fib. retracement level for the previous bullish wave. CONDITIONS FOR CHANGE Closing above 38.6 changes the chart bias. It changes from bearish to bullish potential. After the correction its over it tends to reverse. Namaste.
NYSE:BACShort
by AlanSantana
1
BAC | Time to Short | Bearish DivergenceBank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. Its Consumer Banking segment offers traditional and money market savings accounts, certificates of deposit and IRAs, noninterest-and interest-bearing checking accounts, and investment accounts and products; and credit and debit cards, residential mortgages, and home equity loans, as well as direct and indirect loans, such as automotive, recreational vehicle, and consumer personal loans. The company's Global Wealth & Investment Management segment offers investment management, brokerage, banking, and trust and retirement products and services; and wealth management solutions, as well as customized solutions, including specialty asset management services. Its Global Banking segment provides lending products and services, including commercial loans, leases, commitment facilities, trade finance, and commercial real estate and asset-based lending; treasury solutions, such as treasury management, foreign exchange, and short-term investing options and merchant services; working capital management solutions; and debt and equity underwriting and distribution, and merger-related and other advisory services. The company's Global Markets segment offers market-making, financing, securities clearing, settlement, and custody services, as well as risk management products using interest rate, equity, credit, currency and commodity derivatives, foreign exchange, fixed-income, and mortgage-related products. As of December 31, 2021, it served approximately 67 million consumer and small business clients with approximately 4,200 retail financial centers; approximately 16,000 ATMs; and digital banking platforms with approximately 41 million active users. The company was founded in 1784 and is based in Charlotte, North Carolina.
NYSE:BACShort
by DivergenceSeeker