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BANK OF AMERICA CORPORATION

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BACCL trade ideas

BOA - Bank Of America Never been a big fan of Bank Stocks, but with much of the market recovering, banks still have room to head back to their 1q price levels. We also have the election on the horizon which leads to uncertainty and big money/smart money loves certainty. With the Fed printing and borrowing rates at historic levels, a dividend paying bank stock like $BOA fits that criteria for the smart safe (boring) money. At the moment BAC is consolidating and we're waiting for a break to see which way this stock will move. It appears there is still a good amount of time before it breaks but it's another one we'll keep our eye on. If it breaks in either direction, we'll wait for the price to retouch the purple lines on our chart confirming resistance or support (depending on which way it breaks), before entering a position. We know Buffet (through Berkshire Hathaway) just bought another 34 million shares in July and BOA is still paying a 2.8% dividend with room to grow. Our Targets: If we get a break to the upside, we're aiming at $32-34 range. A break to the downside, looking at $22.00 area for support. Once again, we're waiting for a break and then retest before taking a position on this one. Feel free to give us a follow and shoot us a like for more analysis updates. Cheers! Disclaimer: I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor. All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here. Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on here, expressed or implied herein, are committed at your own risk, financial or otherwise. Feel free to give us a follow and shoot us a like for more analysis updates.
NYSE:BACLong
by MannyLo
BAC 1D BEAR FLAGBear Flags are Ranges which are repeatable trading chart patterns. Bear Flag chart patterns will have a directional bias depending on the previous incoming trend. Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern. Whatever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart). Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place. Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement. When you see descending Volume bars and descending ATR line (which indicates volatility) this shows a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern. Trade Management after there is a breakout candle close. 1 - Position size (compare volume bar to volume ma line). a - Breakout candle must be 100% of average volume for a full position size. b - If 75% of average volume then ½ position size. (To find 75% of Volume look at the charts volume settings – divide smaller # into larger # = 75%+) 2 - Enter two trades. 3 - SL for both trades will be 1.5 x ATR. 4 - 1st trade TP will be 1 x ATR. 5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price. 6 - When 1st TP hit – move 2nd trade SL to breakeven. 7 - Adjust the 2nd trade SL to follow price. *8 – After Breakout candle – if price closes back into chart pattern close trade *9 - When breakout candle is more than 1 ATR from breakout candle open. a - Enter 1st trade at candle close with ½ position size. b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open. c – Price should pullback to that pending limit order for 2nd trade. d – If Price returns back into chart pattern close trade before SL is hit.
NYSE:BACShort
by Tradingstrategyguides
Warren Buffet 2nd Darling..Bank of America Given that Buffett's favorite industry to invest in is banking, perhaps it comes as little surprise that he's been piling into Bank of America (NYSE:BAC) in recent weeks. After obtaining permission in April from the Federal Reserve Bank of Richmond to increase Berkshire's ownership stake in BofA past the usual 10% limit for investment companies, Buffett has taken advantage by building Berkshire's stake to nearly 12% of the bank's outstanding shares. In total, approximately $2.1 billion has been invested in BofA stock within the past couple of weeks. Why Bank of America? The simple answer is that it's a money machine and has cleaned up its act. We're more than a decade past the trough of the financial crisis, and BofA has put mortgage settlements and the awful credit quality of its loan portfolio to bed. Today, it is well capitalized and has been returning boatloads of capital to shareholders during periods of strong economic expansion. Had COVID-19 not gotten in the way, Bank of America was set to return $37 billion in cash plus buybacks to its shareholders between July 2019 and June 2020. The bank also deserves credit for reining in costs by focusing on digital banking and mobile apps. With more of the company's customers conducting their business online, fewer physical branches have been needed, which has helped to reduce noninterest expenses. But what might intrigue Buffett the most is BofA's interest sensitivity. It's arguably the most interest-sensitive money-center bank on Wall Street, and rates have nowhere to go but up over the long run. When the Federal Reserve does begin raising rates in (presumably) 2023, Bank of America should be the biggest beneficiary.
NYSE:BACLong
by ShukriMahadi