Bank Of AmericaIt will continue to the upside to the resistance area 35.80
Then it starts in a downtrend to 31.41
If this area is broken, it will continue with a downtrend to 29.18
BAC trade ideas
$BAC Bank of America WXYXZ from GFC 2009 lows. short X w/in X^2not sure where X completes within X^2.. the Y wave is too complex for me.. i dont think its completing 5-5-3 from the march 2020 lows. would like to see others counts from march lows. we approaching a top but where is it likely to occur..? i don't see much in terms of fibonacci confluence.
BAC Daily CONFLUENCE OF WEEKLY Time FRAME Bat + GARTLEY & Daily TF Bat Strong Zones
Break of Trend line with RSI BELOW 70
SELL
$BAC CALMA StratReason for buying this stock:
1. Candle is above ALMA
2. CCI Breaks 100
Not a financial advice. TAYOR. DYOR
BAC LONG 2/2Broke out of descending triangle yesterday afternoon, good indication of a bullish reversal!
BAC (S&P 500) - Buy on DipBAC -
BoD signal appear and BANKER become strong, Earning is 70 days from now. Nicely trend. BANKER > 50%. 0 Retailer
There we go!!!!!!!!! Bank of America!!!!!!If I'm right this will be at around 34 by the 22 of February!
BAC: corrective structure is still developingInstead of updating the previous post I figured I'd make a new one.
WE LIKE THE STOCK!!!
BAC (Bank of America Corporation)======29/1/2021
BAC (Bank of America Corporation)
Waiting Buy 27.64
TP : 33.02
Stop Loose : 26.64
Bank of America fails at zero line on GoNoGo OscillatorEarlier in the week we were looking to see if Bank of America could find support at the Gap from the beginning of the year.
For this entire “Go” trend that started early November, the GoNoGo Oscillator was able to find support at the zero line as it should in a healthy trend. Yesterday’s price action caused the oscillator to drop below zero, and for the GoNoGo Trend to paint an amber “Go Fish” bar, as price fell through the support of the gap.
Bank of America Has Pulled Back HardFinancials were one of the best performing sectors after the Pfizer vaccine news on November 9. They’ve pulled back in the last two weeks, creating a potential opportunity in one of the biggest and most liquid names: Bank of America.
BAC is trying to hold $30. Aside from its “round number” status, this level is potentially important for a few reasons.
First, it was a resistance line for almost two weeks in late December and early 2021.
Second, it’s almost exactly the 38.2 percent retracement level based on BAC’s move between the low on September 24 and its high on January 14.
Third, the 50-day simple moving average (SMA) has been rising quickly and is now just $0.12 below $30. In fact, BAC’s low today was just $0.03 above it.
Finally, stochastics are back toward oversold levels.
Given the sharpness of its pullback, BAC may need to consolidate before bouncing. However its exposure to the broader economy, low valuations and liquidity (especially for options traders) makes it a potential go-to stock if the “reopening” trend resumes. Traders may want to watch for a potential bounce in coming weeks.
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Bank of America in risk of a trend reversalMy bearish view for Bank of America is almost confirmed. All is left is a move below $30.59 zone. RSI and MACD are flashing red and point for a continuation of the selling. Volumes are descending as activity is slowing down resent days.
Since the bad earnings, the bank is under pressure from investors, but still the downtrend is not entirely confirmed. Given the broader market and perpetual stimulus, BAC may have a second chance to continue its uptrend.
Bank of America looking for support at gapA red, short term counter trend correction arrow came close to the high for Bank of America stock. The ensuing pullback has shown some weakness in price as the GoNoGo Trend has painted a string of paler aqua bars. Price fell into the gap yesterday but rallied to close at the top of the gap. This area (highlighted by a horizontal channel) should act as support.
The GoNoGo Oscillator, has fallen to zero as momentum has cooled and is now riding the zero line. If the “Go” trend is healthy, it should find support here. If it rallies back into positive territory expect the trend to continue to test $34.
BACBAC, 23JAN21, 1D Time Frame, 1-2 weeks horizon.
BAC has been on a bull run the past few weeks where price action has been respecting the 21ema. At this current time, price is at the 21ema and about to touch the trendline and also at the 61.8% fib level. I anticipate a bounce from this area for another bullish move.
MACD lines pointing down but over all trend is up while the histogram shows lesser momentum on the last swing high (a sign of divergence or consolidation)
STOCHASTICS is pointing down but is currently at the oversold level. From here the only way to go is sideways or up.
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Disclaimer
I am not a registered investment advisor and do not offer investment advice and recommendation. All my post is not a recommendation, advise nor a suggestion and should not be used as a replacement for investment advice from a qualified licensed professional. All my post is for, information and entrainment purposes only. You, the reader, bear full responsibility for your own investment and trade decisions and should seek the advice of a qualified securities professional before making any investment or trade.
