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Bankofamerica

Bank of America (BoA) / Short Term AnalysisWith the index that started to rise after the abundant money support given to the markets after the pandemic, we saw that this stock's price could rise to the level of fib 0.618. After this situation, the price seems to be between the rising trendline and the fib 0.382 level for now. If this continues and acts as a rising triangle pattern, the price may reach the tested fib 0.618 level in August or October. Only personal opinions and ideas. Does not include "Legal Investment Advice"...
NYSE:BACLong
by EmoteK
Rising Wedge - Bearish outlookLooks like we're forming a rising wedge on this chart, with a possible 5th wave in the process. There's 3 options I see to short depending on risk tolerance. 1. if 5th wave if truncated, Short on rejection 2. IF 5th waves at major resistance Short. 3. Short on completion of Wedge + break of wedge support. BAC hasn't enjoyed the same V shaped rallies other stocks have. Bullish sentiment is expected to be relatively low given an expectancy in rising debt defaults, related obviously to the rising unemployment rates (now at 26mil+) and businesses that aren't able to generate incomes to cover their liabilities, creating something of a domino effect across the board.
NYSE:BACShort
by ChasingTheMoon
Elliott Wave View: Bank of America (BAC) Resumes LowerElliott Wave view in Bank of America (BAC) suggests the decline from January 15, 2020 high is unfolding as a 5 waves impulse. Down from January 15 high, wave (1) ended at 32.47 and bounce in wave (2) ended at 35.45. Stock has resumed lower in wave (3) which ended at 17.95. Bounce in wave (4) is proposed complete at 25.35 as a zigzag. Short term 45 minutes chart below shows the stock ended wave (4) bounce at 25.35. This level is now the short term invalidation level for more downside. Internal of wave (4) unfolded as a zigzag where wave A ended at 23, wave B ended at 19.51, and wave C of (4) ended at 25.35. While below 25.35, wave (5) lower is currently in progress as an impulse, but BAC still needs to break below wave (3) at 17.95 to avoid a double correction. Down from 25.35, wave 1 ended at 21.09 and wave 2 bounce ended at 23.40. Near term, while rally fails below 25.35, expect Bank of America to extend lower within wave (5). Potential target lower is 123.6 – 161.8% external extension of wave (4) which comes at 13.3 – 16.1.
NYSE:BAC
by Elliottwave-Forecast