NCB trade ideas
$BAC Lays the Groundwork for a Binary-Outcome RangeBAC offers a good example of the value of perceiving the big picture in terms of technicals, with key pivots coming at very obvious points in the chart narrative.
Right now, we may be defining an extended period pinned between $18-28, where we have long-term support and resistance, net-interest margins at razor-thin levels, and no conviction about the future.
$BAC - rejected @ 29 again$BAC
Few things to note:
1. Rejected a second time @ 29
2. Small $0.50 gap im looking to have filled
3. Looking for a bounce/ fall through @ $27 (set alerts)
4. RSI: in oversold territory - indicating a continued selloff
5. SMI at multi month high and rolling over.
Plays:
1. Buy over 29.50 and use 28 as stop loss
2. If is bounces at 27, enter @ 27.50 and use 26.50 as stop loss.
3. Potential in bearish case to move back towards $25 as a entry point.
Expecting short term pull back on bullish channel The markets rose quite a bit this week due to positive job reports for May, which has given investors positive outlook for the markets. However, BAC is at the top of the channel so i expect it to pull back a little bit before climbing higher. Might buy a few puts depending on where the price action heads during market open. if it breaks the channel it is also a good sign.
Any thoughts on this are appreciated, Thank you and happy trading!
BANK OF AMERICA Analysis in 2h TF Bullish then BearishHi Traders, I'm sharing with you my humble vision concerning BANK OF AMERICA , I'm seeing a slow uptrend going to the first level followed by a fast bearish movement down to the second level, It's my prediction to this market. Please don't hesitate to comment and give me your remarks guys, good luck for you all :)
BAC Trade BreakdownStill a little worried about this one. Didn't stick to my rules and kind of jumped into it without proper DD.
Haven't traded BAC in awhile. Pulled up the 5 min chart and saw that there was a gap to be filled and the price had started to move in that direction. Jumped in early; should have waited for more of a comfirmation that it's going to fill the gap. I want to trade not gamble. Going to have a tight stop. Hopefully the cards will fall in my favor.
Bank of America Corp (BAC - NYSE) - ABC wave patternBank of America Corp (BAC - NYSE) is in B wave, which starts from today upside against A five wave down as correction. After that C wave will be next down cycle. In weekly time frame it’s completed ABC wave cycle from 2009 low and now it is in correction. It is a weaker banking stock of NYSE, which is under-performing SPX. It is not confirmed that corrective WXY wave up is over. So wait for confirmation to trade bigger C wave cycle down.