$BAC34.5 demand has confluence also with channel support trendline and 200 sma on the H1. Good Scalp/Day trade entry level. if breaks, retest of that area to 33.6 level is good entry for short.
BA.C trade ideas
BAC Intraday Buy | Valid only for 24 December 2019On intraday time frame, trend is up and no nearby credible price point for trend reversal
Entry: 35.11
Stop Loss: 35.00
Target: 35.33
Valid only for 24 Dec 2019
BAC: Good daily signal...long term trend is up$BAC offers a good entry to join the long term trend here. The daily timeframe flashed a signal today, if it holds over today's low give or take it will likely accelerate up from here, moving higher for 6 days, before consolidating once more for a week or two. Fundamentals are in place for a massive trend up in financials, with regulations loosening recently, since the financial crisis of 2008. $JPM and $BAC are two favorites here, going into 2021. Earnings reports are also extremely positive for the company, with management doing well on their promises, and digital banking reducing costs substantially for $BAC. Very low risk position for the long term.
Cheers,
Ivan Labrie.
Weekly BAC, nearing .618 recover, time for trend change?Always watching fib for indication of possible resistance, change or breakouts for continuation.
Enjoy the holidays.
BAC - WEEK CHART
Hi, today we are going to talk about Bank of America and its current landscape.
As nowadays we live in a consumerist society and access to a credit card has continually become easier to obtain, is reasonable to predict that the card debts are also going to rise too, as financial education isn't the strong point of U.S consumers, and are used to the debt culture.
The heat up U.S economy put credit card companies in a more comfortable zone as the unemployment rate remains near to historic lows, which helps customers to keep up with their bills. However, the question that worth to be raised here is, if the 90 days past due card debt is probably surging to 2.01%, the highest level since 2010 amid a heated economy, what is going to happen with this type of debt, once the U.S economy make its first downward movement of correction and make harder for customers pay their credit card bills. Even with the credit card issuers tighten their credit standards, we can't be sure it's going to be enough to avoid a crisis on the sector, which could lead to a flood of bad debt, decline of new credit card issuance and other types of liabilities. This scenario could mean concerning news for Bank of America if the company doesn't progressively start to deploy the proper countermeasures for this scenario.
Thank you for reading and leave your comments if you like.
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BAC Finally Breaking OutSeeing a breakout here among the top XLF names, including BAC. I like ATM 3-4 month calls on this one. SPY's breaking out on this one only bolsters the idea.
Now you can truly and happily laugh yourself to the bank -2see chart
BAC has broke out of the resistance level and we can expect price to head much higher in the coming months.
This is one of WB's favourite as well !
Traders Must Define Exact Buy / Sell Points.. All The TimeSo often, a very good trade is marred by a less than perfect execution .
Eager to get into a trade, a trader might throw caution to the wind,
and immediately take the price that a savvy market make might want them to have.
Once that is done, then the entire trade is "immediately compromised",and you are put on the "defensive" as a trader.
If that blunder occurs, a trader then must then either add to position, and by doing so in some cases increasing risk substantially
or sell out at a loss, as the market more often than not immediately begins to work against them
The best traders out there define risk by "always" letting the market come to them, and do so by entering "Limit"GTC orders
waiting patiently,often time for days, then buying when many are selling, and selling near price peaks
as public recognition of "the story" becomes well known.
Excellent traders do their homework and study the issue they wish to buy,
They know it like the back of their hand.
Having bought at the right time
,then a trader must decide when might be the optimum place to sell, or exit a particular trade
hopefully with a profit, but often times with a "breakeven" or often at a loss, because of poor order placement
The point of this discussion is to illuminate just how hard it really is for a trader
who even having done their homework now must,complete both sides for a successful trade.
Traders don't talk about this usually.
This gets swept under the rug of,.. "there will always be losses"
My point is to minimize them..
So next time you are "beside yourself" to get into a trade, think twice about it.
I have pulled up a random chart here of Bank Of America ( BAC)
See if you can define where a proper "buy and sell" point might be,on this chart.
Can you see it ..?
Trading is an extremely difficult occupation to have.
Just being honest here.
Make yourself a winner by knowing the shot
and by doing the trade " the right way" the first time.
And never look back. We all do it, don't we ..?
Move forward instead,
Your bank account will be glad that you did.
THE_UNWIND
12/12/19
NEW YOUK
i37. BAC Bank Of America CorpBeta-R:Journal. Risk Management: Compound .Level : PA . Time: Short-term - Intermediate . This is just my view follow if it aligns with yours. Ideas are not repeated rather updated.Worry about risk only.
short BIAS on BACThe furthest BAC has moved away from the mean is 19% Over the last year or so. BAC has moved around 17% to the upside the past few months with no significant pull back. BAC is set for "breath" in price action. If negative news develops it could amplify the downward move. I like the Dec 27th 30-30.5 puts here as a conservative wager. You could look lower if you want to stretch out to next year (JAN). They are cheap and with a 3-4 week expiration could see some nice returns.
$BAC stonk chort opportunity #BAC has broken out to ATH's and is approaching the 1.619 golden mean ratio fib extension wit coinciding bearish divergence on the MACD plus tail end RSI bear div to add the cherry on top.
Bank of America Bearish Butterfly (Daily)Good evening ladies and gents, Bank of America Shorting opportunity here.
Entry would be inside the pink box, (safest possible entry is at the top of the box at the 1.618 "$34.07" golden mean ratio.
Stop set for slightly over 3% with a 10+% exit targets.
You could take profit at B and also common retrace areas. Once a definitive swing is set, I will post exact common retrace targets.
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Is it time to withdraw money from Bank?Big lenders like Bank of America and JPMorgan Chase had blistering rallies in October and early November as investors rotated to value stocks and looked for higher interest rates. But now those hopes are fading and BAC is potentially stalling.
Some warning signs may be appearing on the BAC chart. First, its MACD has crossed to the downside. Second, it’s now under its 8-day EMA, which has also flipped negative.
The Stochastic and RSI oscillators have also been dropping from overbought conditions.
It’s possible to make a fundamental argument in favor of the banks because they’re at historically cheap valuations and have gone through lots of stress testing from the Fed. But now lots of good news is priced in and the economic data has weakened. Traders may want to watch BAC’s recent lows around $32.50 as a key level that needs to hold.
