BAC | Time to Short | Bearish DivergenceBank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. Its Consumer Banking segment offers traditional and money market savings accounts, certificates of deposit and IRAs, noninterest-and interest-bearing checking accounts, and investment accounts and products; and credit and debit cards, residential mortgages, and home equity loans, as well as direct and indirect loans, such as automotive, recreational vehicle, and consumer personal loans. The company's Global Wealth & Investment Management segment offers investment management, brokerage, banking, and trust and retirement products and services; and wealth management solutions, as well as customized solutions, including specialty asset management services. Its Global Banking segment provides lending products and services, including commercial loans, leases, commitment facilities, trade finance, and commercial real estate and asset-based lending; treasury solutions, such as treasury management, foreign exchange, and short-term investing options and merchant services; working capital management solutions; and debt and equity underwriting and distribution, and merger-related and other advisory services. The company's Global Markets segment offers market-making, financing, securities clearing, settlement, and custody services, as well as risk management products using interest rate, equity, credit, currency and commodity derivatives, foreign exchange, fixed-income, and mortgage-related products. As of December 31, 2021, it served approximately 67 million consumer and small business clients with approximately 4,200 retail financial centers; approximately 16,000 ATMs; and digital banking platforms with approximately 41 million active users. The company was founded in 1784 and is based in Charlotte, North Carolina.
BAC trade ideas
BAC OutlookFor my own educational purposes. Not to be used as financial advice.
1Y
Being held under 200EMA with decreasing volume.
RSI - Is in overbought territory, bearish.
MFI - Is in a downtrend, showing bearish sentiment.
5Y
Volume is still decreasing, meaning it is bearish.
RSI - Is in a downtrend, bearish.
MFI - In in an uptrend, bullish. *note that this uptrend was from the drop in March when everything went down. This would just be a correction, possibly a dead cat bounce
All-Timeline
Volume is slightly higher, bullish.
RSI - Is in oversold, bullish.
MFI - Is in a downtrend, bearish.
This could give off mixed signals, but when we take into account the state of the market and the economy, I feel the bearish signals are stronger. I feel we are in for more downside.
BAC short - Looks like a RetracementSeveral indicators point to a retracement:
-Divergence in histogram (yellow line)
-RSI touched overbought zone and crossed downwards
-ADX tightens and has plenty of space
-MACD deathcross
For retracement i inserted fibonacci. But use your own strategy to get out. (f.e. partial TP or shifting of SL downwards on the way down could be good because the move downwards could become powerful these insecure times).
Bank of America - Extending higher from the bullish flagBank of America Corp - Short Term - We look to Buy at 37.17 (stop at 35.28)
Posted a Double Bottom formation. Prices are extending higher from the bullish flag/pennant formation. The formation has a measured move target of 44.30. Further upside is expected although we prefer to set longs at our bespoke support levels at 37.17, resulting in improved risk/reward.
Our profit targets will be 44.30 and 48.82
Resistance: 38.60 / 40.37 / 43.75
Support: 37.15 / 36.20 / 32.63
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
BANK OF AMERICA CORPORATIONMonday, 14 November 2022
12:59 PM (WIB)
Bank of America Corporation is a bank and financial holding company, which engages in the provision of banking and nonbank financial services. It operates through the following segments: Consumer Banking, Global Wealth and Investment Management, Global Banking, Global Markets, and All Others. The Consumer Banking segment offers credit, banking, and investment products and services to consumers and small businesses. Global Wealth and Investment Management provides client experience through a network of financial advisors focused on meeting their needs through a full set of investment management, brokerage, banking, and retirement products. The Global Banking segment deals with lending-related products and services, integrated working capital management and treasury solutions to clients, and underwriting and advisory services. The Global Markets segment includes sales and trading services, as well as research, to institutional clients across fixed-income, credit, currency, commodity, and equity businesses. The All Other segment consists of asset and liability management activities, equity investments, non-core mortgage loans and servicing activities, the net impact of periodic revisions to the mortgage servicing rights (MSR) valuation model for both core and non-core MSRs, other liquidating businesses, residual expense allocations and other. The company was founded by Amadeo Peter Giannini in 1904 and is headquartered in Charlotte, NC.
BAC - SHORT TERM CORRECTIONShares of Bank of America Corp rose 4.41% Thursday, on what proved to be an all-around favorable trading session for the stock market. The performance of the stock was mixed when compared to some of its competitors
In a short term, a correction is expected to the 0.5 Fibo level with a $34 price target. Further correction is possible as well. 2nd support is located at $31.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
10/30/22 BACBank of America Corporation ( NYSE:BAC )
Sector: Finance (Major Banks)
Market Capitalization: 290.715B
Current Price: $36.18
Breakout price trigger: $36.60
Buy Zone (Top/Bottom Range): $35.60-$32.65
Price Target: $45.80-$46.50 (2nd)
Estimated Duration to Target: 180-191d
Contract of Interest: $BAC 4/21/23 40c
Trade price as of publish date: $1.82/cnt
$BAC chart analysis 👁🗨*This is not financial advice, so trade at your own risks*
*My team digs deep and finds stocks that are expected to perform well based off multiple confluences*
*Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management*
Markets are at a 50/50 mark that could decide the trajectory of things for a while until we reach yet another consolidation period. My team believes that tomorrow either $AAPL or $AMZN will miss. We believe that inflation worries will fuel the dollar and cause yet another leg down in the market.
Additional thoughts: Russia/Ukraine conflict is escalating and could be reaching the peak or climax before any relief arrives.
!! This chart analysis is for reference purposes only !!
If you want to see more, please like and follow us @SimplyShowMeTheMoney
BAC - Bank of America (full monthly chart)A difficult chart to label. On an linear scale it looks like an expanding ending diagonal, BUT on a logarithmic scale it looks like a contracting ending diagonal. I chose the latter, even though it, in theory, violates the rule (the first wave is shorter than wave 3). Still, the rule is not violated on the linear scale. It's also possible the move is an impulse wave (in that case the diagonal would be a leading diagonal), but the initial wave 1 of the higher degree looks more like a zigzag.
The bottom line is - if the price doesn't enter the price territory of wave 1 (around $19+) it invalidates the pattern and would suggest an impulse wave.
BAC D2: BEST Level to BUY/HOLD 40% gains(SWING)(STOCKS)Why get subbed to me on Tradingview?
-TOP author on TradingView
-2000+ ideas published
-15+ years experience in markets
-Professional chart break downs
-Supply/Demand Zones
-TD9 counts / combo review
-Key S/R levels
-No junk on my charts
-Frequent updates
-Covering FX/crypto/US stocks
-before/after analysis
-24/7 uptime so constant updates
🎁Please hit the like button and
🎁Leave a comment to support our team!
BAC D2: BEST Level to BUY/HOLD 40% gains(SWING)(STOCKS)
IMPORTANT NOTE: speculative setup. do your own
due dill. use STOP LOSS. don't overleverage.
🔸 Summary and potential trade setup
::: BAC D2 chart review and outlook
::: nice chart / accumulation in progress
::: range work / more losses before BOUNCE
::: updated/revised outlook
::: strong liquidity zone / gap fill area near 25 USD
::: BUY/HOLD and get paid later (35-50% BOUNCE)
::: expecting more losses mid-term (4-8 weeks)
::: October WEAK period for banking stocks
::: recommend to BUY/HOLD dips/buy low 25USD
::: BUY AT/NEAR range lows after correction
::: noteworthy lower risk setup / 35-50% gains possible
::: PT BULLS is 33-36 USD December 2022
::: is the best strategy BULLS
::: BUY LOW near 25 USD / BUY ANY DIPS
::: recommended strategy: BUY NEAR range LOWS
::: SL 10% TP1 +25% gains TP2 +40% gains
::: BUY/HOLD setup
::: DO NOT expect overnight gains
::: This is stock market
:::Not casino in Macau
🔸 Supply/Demand Zones
. N/A
🔸 Why should I follow your setups?
:::Check track record it's all been posted
::: MRNA 200%+ gains, NVAX 300% gains, REG 60%
::: AMD 40% gains and a lot more in 2020/2021/2022
RISK DISCLAIMER:
Trading Crypto, Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight stop loss.
10/16/22 BACBank of America Corporation ( NYSE:BAC )
Sector: Finance (Major Banks)
Current Price: $31.70
Breakout price trigger: $32.65
Buy Zone (Top/Bottom Range): $30.90-$29.00
Price Target: $35.50-$36.00
Estimated Duration to Target: 48-50d
Contract of Interest: $BAC 12/16/21 32c
Trade price as of publish date: $1.96/cnt
BAC Iron Condor pre-earnings announcement Monday morningThe options market expecting a move of 5.3% in either direction. This move was breached in 2 out of the last 12 earnings .
gyazo.com
The post-earnings move was outside of the implied range 2 times. In those cases, long straddles were profitable. The rest of the earnings moves likely yielded profitable Iron Condors.
Scanning for the best options trade of all calendars, straddles/strangles, iron flys and condors, the highest ranked trade is a IronCondor with strikes at 26, 30, 33, and 37, expiring on 2022-11-04, for a credit of $1.35.
gyazo.com
We can see the theoretical values in more detail. The distribution edge D%, found by the expected value of the payoff picture on the stock's historical distribution, has an edge of 2.0%. The forecast edge, which is derived from historical volatility , has an edge of 13.3%. Lastly, the smoothed edge, which is calculated by drawing a best fit curve through the monthly implied volatilities, has an edge of 0.0%. The edge is relative to the mid-market price of the trade. Greater positive edges are a theoretical benefit to the trader. We can also look at the payoff graph. The probability of profit sums the probability of the nodes for the part of the payoff picture above the zero profit line over three standard deviations. For this trade the probability of profit is 62.31%. The reward to risk divides the max gain by the max loss. Here the 1 to 2.0 is the ratio of the max gain of $133 to the max loss of $-267. There are two break evens for this IronCondor at 28.67 and 34.33. The total greeks and ThinkOrSwim code complete the information on the trade analysis popout.
False Breakdown in Bank of America?Bank of America lost more than 40 percent of its value between February's high and this morning’s low. Is the megabank now showing signs of a bounce?
The first pattern on today’s chart is the early drop to $29.31. That was BAC’s lowest price since December 2020, but it lasted less than 30 minutes. Prices turned green by 10am ET and quickly surpassed the previous session’s high.
The result was a few possible reversal patterns. First is today’s bullish outside candle.
Second, you have a false breakdown to new 52-week lows.
Third is the potential double-bottom at the July lows. That’s especially visible on the weekly chart, which also shows BAC holding support from early 2021.
The next pattern to watch could be the falling trendline along the highs of September 20 and October 4. This, combined with the support level from February 2021 of $29.57, create a narrowing range. Traders may look for a potential breakout, especially with quarterly results due the morning of Monday, October 17:
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Important Information
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. You Can Trade, Inc. is also a wholly owned subsidiary of TradeStation Group, Inc., operating under its own brand and trademarks. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com .