BAC Bull Flag and Relative StrengthBAC is forming a nice looking bull flag and showing great relative strength. Going to take a full position on this one at the open today. Targets $37, $38.59, $40
BAC trade ideas
BANK OF AMERICA's outstanding performance Had this idea on July and it was a long term analysis and it delivered.
BAC Bank of America Corporation Options Ahead of EarningsIf you haven`t bought the dip on BAC here:
Then analyzing the options chain and the chart patterns of BAC Bank of America Corporation prior to the earnings report this week,
I would consider purchasing the 34usd strike price at the money Calls with
an expiration date of 2024-2-16,
for a premium of approximately $1.54.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
EOY Review $BAC outside quarter, looks promising Financials did well in Q4
NYSE:BAC with a bright green 3 on the quarter
hammer on the year, with lot of upside potential
notice that other financials e.g. JPM ended the year at/above previous highs
meaning BAC wasn't the strongest of them
but, also could mean more upside potential
let' see how it plays out in '24
no predictions, price and time will tell
anything can happen....
Bank of America (BAC) Stock: Breaking Out, Fibonacci DynamicsAnalyzing BAC Stock: Navigating Breakouts and Fibonacci Dynamics
Introduction:
Bank of America Corporation (BAC) has seized investor attention with its recent breakout from a falling wedge pattern on October 27, 2023. As we delve into the details, this analysis aims to provide insights into the stock's recent performance and chart the potential trajectory based on technical indicators.
Breakout from Falling Wedge:
The breakout from the falling wedge pattern marked a significant turning point for BAC stock on October 27, 2023. This event initiated a gradual yet dominant push, propelling the stock towards the 0.5 Fibonacci retracement level from the bottom wick of the lowest candle in the 9-hour timeframe.
Fibonacci Retracement Analysis:
In the weekly chart analysis, BAC is yet to approach the 0.618 Fibonacci retracement zone. This critical zone is anticipated to be a pivotal level, potentially triggering a significant correction towards the falling wedge resistance around $28.90. The Fibonacci dynamics serve as a roadmap, guiding traders through the intricacies of BAC's price movements.
Short-Term Bearish Outlook:
For the short term, a bearish stance is maintained as we anticipate the completion of a double top pattern. This pattern suggests a potential reversal, aligning with our analysis of the Fibonacci retracement zones. The completion of the double top pattern is considered a crucial phase before the stock advances further, adding a layer of caution to our near-term outlook.
Conclusion:
In conclusion, Bank of America Corporation's recent breakout from the falling wedge pattern has set the stage for an intriguing journey. The Fibonacci retracement analysis reveals key levels, with the 0.618 zone acting as a potential catalyst for a significant correction. As we remain short-term bearish, the completion of the double top pattern becomes a pivotal event, shaping the narrative for BAC stock's future movements. Traders are advised to stay vigilant, closely monitoring these technical indicators to navigate the dynamic landscape of Bank of America Corporation's stock performance.
Short EntryLove trading parallel channels.
They DO be holding brah.
use a stoploss pls thanks regard
BAC Broadening Formation A clear broadening formation after GFC. What I find most interesting rn is the bounce has formed a rising wedge... aka bounce is not nearly as strong as it should be.
WARNING;
BAC BLACKSWAN 2024 POTENTIAL
I think due to the name Bank of America, the size, and the sector, this would/could be a Silicon Valley Bank x Lehman Bros event if this formations support fails early 2024.
- Russ Burry ;)
Short BAC idea.
Here is my thoughts on NYSE:BAC
I am watching for this to go down here in the near future. I will be looking for a rejection of this supply zone with the Heikin Ashi candlesticks. My Take-Profit is the first gap fill and my SL would be at the top of the supply zone. As you can see here, we also have the MACD slowing down the buying pressure. Thank you as always for reading my analysis.
BAC - Good reversal candidate for 2024
Month price tagging 200EMA with a falling wedge set up. Volume above 28 is needed to confirm the hold and further breakout.
Risk/Reward is good here only for LT passive accounts. Still needs more work for this to work as a good trade.
Flag on daily should atleast test the trendline around 30.
No position yet.
Bank of America support/resistance attention BAC/POWhen we look at the correlation between BAC/PO and BAC, we can see a direct proportion. And now, with BAC/PO at the long-term support/resistance point and the expectation of a rise in banks in general, it may be the bank that performs better among banks.
I share my ideas and analysis to improve myself and to learn more from 3rd parties. It is definitely not investment advice. If you like it, you can support by leaving a like or you can indicate the parts you see wrong as a comment.
Bank Of America Priced In Silver#Banks can run, but they can't hide!
Still weak when priced in #Silver.
Potential Breakouts in the BanksLenders like Bank of America mostly remain negative on the year, but some members of the industry could be breaking out.
The first chart (above) highlights a falling trendline along the peaks of February and July. BAC paused at this resistance two weeks ago but rallied above it yesterday. It also remained above the mid-September high. Did old resistance become new support?
NYSE:PNC PNC Financial Services, NYSE:KEY KeyCorp and NYSE:USB U.S. Bancorp had similar patterns:
Next is the ascending triangle in NYSE:WFC Wells Fargo, which broke out on Wednesday and jumped to a 15-week high:
Patterns like this, in so many related companies, may suggest investors are rotating back into the broader industry group.
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BAC to LONG?BAC long term profit ? A popular stock + Above the average line 150 + Breaking a downtrend line + Year-end rally in the banking sector?
Only an idea and not a recommendation for trading!
BANK OF AMERICA BUY AT 30 SELL BY 34 Earnings coming on January
Christmas rally
buy the Hype
CyberMOnday
BlackFriday
Sell before Earnings !!
CAFE CITY STUDIO 2024
BUY 30
SELL 32 - 33- 34 MAX
SL 24
High Risk !! NYSE:BAC
BAC, 9d/-10.51%falling cycle -10.51% in 9 days.
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This data is analyzed by robots. Analyze historical trends based on The Adam Theory of Markets (20 moving averages/60 moving averages/120 moving averages/240 moving averages) and estimate the trend in the next 10 days. The white line is the robot's expected price, and the upper and lower horizontal line stop loss and stop profit prices have no financial basis. The results are for reference only.
Triple bottom cleared. Long EntryTriple bottom fulfilled, should see next level up.
Please use a stoploss, thanks!
Great opportunity for long term investors in BANK of AMERICAThe second largest American bank has been spotted at a 61.8% retracement of its impulse wave up in march 2020. Moreover the stock has completed an entire zig zag(according to Elliot wave theory or simply ABC correction) from 2021 till date.
The wave 3 target for the stock in the 3-5 year term turns out to be around $68.
BAC vs SILVERThe implications of a confirmed breakdown for #BankOfAmerica versus #Silver is a paradigm shift type event.
Capital flows will then favor precious metals to a point that #gold and #silver will severely out perform.
BAC - Touching Long Term SupportTen year support line. Historically this appears to be a good time to initiate a long term investment.
Increased Interest Rates Harm Banks. Trading Idea for 18/10/2023Bank of America has incurred a loss of 131.6 billion USD from securities transactions. According to the bank's CFO, Alastair Borthwick, this loss can be attributed to the declining value of US government bonds in the bank's portfolio, as a result of rising interest rates. The loss is anticipated to recover once the government fulfils its obligations, leading to an expected increase in Bank of America's accounting earnings.
Today, we propose to focus on the Bank of America (NYSE: BAC) stock chart.
On the D1 timeframe, support has formed at 25.84, with resistance at 27.67. There is a significant probability of a breakthrough at the resistance level.
On the H1 timeframe, the short-term target for the price increase is around 30.65; while in the medium term, it could reach 37.09.
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Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
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Bank of America: Ascending Broadening Wedge Below S/R ZoneBank of America has confirmed the MA's and S/R zone as Resistance within an Ascending Broadening Wedge just as PACW did not so long ago, and now more interest is building at lower levels, which could suggest that BAC will be breaking down from this wedge very soon, and the measured move would take it all the way down to about $2, though we could see it try to hold $17 before that.
This is a little bit of an update to the BAC and PACW fractal listed in the related ideas tab, this time more focused on BAC as a whole.
💵 E a r n i n g s J o u r n a l 📶 S T A T I S T I C A L A N A L Y S I S
Current 50-Day Market Trend: short/sellers/negative.
Next Swing: neutral swing of volatility.
Next Wave: buy wave to the deviation.
Next 50-Day Market Trend: long/buyers/positive.
Trade Type: Touch & Go don't wait for a close.
💵 E A R N I N G S A T A G L A N C E
Release Date: 10/17 AMC
Quarter: FQ3'23
_______________________________________________
Revenue Anticipations: positive surprise for Revenues.
Revenue Surprise-Confidence: on a scale of 0-9, #4
Revenue 2-Year Trend: the company trend in Revenues is positive.
_______________________________________________
EPS Anticipations: positive surprise for EPS.
EPS Surprise-Confidence: on a scale of 0-9, #8
EPS 2-Year Trend: the company trend in EPS is neutral.
_______________________________________________
📝 S Y N O P S I S
"I expect the market will buy the +surprise if the earnings report hits the Wall Street consensus, or sell the -surprise if the earnings report misses the Wall Street consensus."
🔎 R E S E A R C H D E P T H
Technical Analysis: daily chart.
Fundamental Analysis: EPS & Revenue data.
Press/News: none.
Social Media: none.
