BAC trade ideas
BAC 20211214 AnalysisDisclaimer: The contents are for informational purposes only and do not constitute investment or trading advice.
BAC is in an upward channel. A reverse head and shoulders/ascending triangle pattern formed between Jun-Sep and the neckline was broken @ $44.
Price has now pulled back to $44 support and if this level holds, BAC has the potential to rise to ~$52 towards the upper trendline of the channel.
Stop loss at $41.5, Price Target 1: $48, Price Target 2: $52
Descending Triangle in Bank of AmericaBank of America attempted a breakout in October, but some newer patterns suggest a potential change of direction.
Notice the series of lower highs since December 1 as BAC tries to hold roughly $43.60. That’s a potential bearish triangle. Interestingly, the support line is near the June high of $43.49.
Second, most of the candlesticks recently have been solid, meaning that highs have been sold.
Third, price has gotten trapped under the 50-day simple moving average (SMA). The 8-day exponential moving average (EMA) is also under the 21-day EMA.
Next, MACD has been steadily falling since early last month.
Switching to the weekly chart, BAC just formed an inside candle. That kind of compressed price action may suggest volatility is getting ready to expand.
Finally, the macro backdrop may be more difficult for the company because the Federal Reserve’s tighter policy is flattening the yield curve.
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BAC Possible PivotWedge apex is coming to a close soon on BAC, time frame seems to be putting the break around tuesday open but any whale could pull it through Monday, keep an eye on this as these contracts move HARD
Bank of america $BAChere my idea on bank of america, bac seems in the last impulse before the big correction, 1m chart is forming wave 5, on 4h chart i think the price is forming wave 4 flagging on decreasing volume, target is wave 5 around 50 usd
Bearish on Bank Of America (BAC)This is my first time publishing any analysis and I have also not been analyzing charts for to long. This post is more so looking for feedback on my analysis, but if it helps others, then great.
That being said, I am confident in shorting BAC as a result of the bearish indicators shown in my chart. For one, it is hovering above a support level that I think needs to be hit before BAC rebounds. My other reasoning is the the 50 day and 100 day moving averages are crossing. The third reasoning shown in my analysis is the "Bearish Cup and Handle Pattern." Also not drawn in what I believe to be a bearish pennant pattern. These reasons are why I have a bearish bias on BAC.
As I said before, I am new to this, so any feedback would be MUCH appreciated.
(Not Financial Advice)
BAC at an inflection pointGreen lines - rising wedge pattern
Yellow lines - Recent bearchannel /Possible flag
White line - Resistance turned Support area
Bearish Rising wedge is obvious here. There's room for one more trip up should BAC breakout of that bearchannel with a possible bullish target of 50$.
Should BAC lose the wedge support and drop below 43.40 we could possible drop down to 32-35$ which would represent a 25% correction.
If it loses support this week or rallies up ome more time , BAC is heading for a correction into the Spring 2022
BAC-NYSE: is it trend continuation?BAC in Bullish trend, watch the possible cup and holder shape for short sell.
Bank of AmericaBAC could still be in the current retracement of the previous low. I see some bearish candles under the 200 ema (purple). Although the previous high, has been broken, I see a lower high and a new low on the 1 hour timeframe. BAC could be falling to a nice buy zone in the future. Let's see what happens!
Bank of America Bearish Pattern -UPDATEBAC following the bearish Crab pattern published a while back.
The price is in buy zone (Put) with most indicators weak and negative.
Integrity is Important!Please review the analysis published on November 4th, 2021:
Title: Negative days ahead for banks!
You can see the most important support (green lines) and resistance (red lines) to watch in the coming days in these charts!
Best,
Moshkelgosha
DISCLAIMER
I’m not a certified financial planner/advisor, a certified financial analyst, an economist, a CPA, an accountant, or a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
Negative days ahead for banks!It seems Banks have run out of steam and in the near future, they will make a correction or go sideways!
BAC: Fails to close above 48.50
WFC: Got rejected from resistance level and may retest 46 in the coming days
C: struggling at the support line
MS: pure consolidation between 96-106
JPM: 2-3% correction is expected!
GS: could retest 370 level once again!
You can see the most important support (green lines) and resistance (red lines) to watch in the coming days in these charts!
Best,
Moshkelgosha
DISCLAIMER
I’m not a certified financial planner/a certified financial analyst, an economist, a CPA, an accountant, or a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
$BAC - PT 50+BAC going to 50 at a minimum for wave 5. Book it - DOW wants to be strong so lets see these banks keep running
Bank of America Corp to Lose Ground. BACOverbought, just coming out, and now divergent. I am waiting on a sizeable drop. It is unclear whether this is going to be a Wave 2 or B, but it does not matter as both scenarios are implicitly bearish. Very short term outlook, as the view is based on an hourly chart.
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. 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!
BAC swing trade 🐻 Ran up really fast through Sept due to rising 10yr and formed a rising wedge . coincidentally BAC fell out of this rising wedge when Powell announced no rate change is imminent which sent yields plummeting.
44.22 Is really strong support, dating back 20yrs (see previous post). If it bounces there, look to cover..
Stop loss 47.50
Option Play: BACMarket has been pushing ATH for the last two weeks with constant up and up and up. When it finally consolidates BAC will give some back with it. Stock is extended on all timeframes and today breaking that trend line setting up for a move down. Levels below for me - first 45 then 43. Make sure you take profit given the chance. Above 48.5 this is invalid.
Playing 46p for 11/12 and 45p for 11/19 - 50 cons of each. Good luck if you play!!
Bank of AmericaLooks like we are at a higher high on the weekly and daily timeframes. Bank of America is a nice safe stock in my eyes. Although we are in a season where alot of shopping will go on, I can see this being bullish for banks and other holiday related tickers. Bank of America holds a high position in many prominent portfolios including my Uncle Buffet's. I want to see if price can continue trading above the 20 and 50 ema. Say if there is a pullback i'd at least feel that a 38% is realistic on the daily timeframe. If it surprisingly pasts that support level, price could reach the support that was created back in July of this year. Let's see what happens. Alot of credit cards will be swiped this season and for swipe a BAC customer pays, BAC will charge a surcharge to the business for every transaction that is made. Looking forward to a nice but slow ride. Good luck!
$BAC with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $BAC after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 85.71%.
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