BAC - LongOverall market structure for BAC has been on an up trend on the daily tf. Price currently consolidating forming a bullflag on the daily and on the hourly, price has been ranging / coiling the past 5 days. It looks like it is ready to pop and if it does, I want to catch it at once it breaks the 40-40.25 zone.
BAC trade ideas
AXP, BAC, and JPM finish with a strong close All three have a similar pattern U/V shape with good volume. Decreasing volume on the retrace and increasing on the up move. I'll be looking for some continuation plays. JPM in particular is at a big resistance so hoping for a good pop if it can get past that.
BAC Support and ResistanceAnalyzing Support and Reistance levels for Bank of Ameirca Stock.
Good Ratio.
I'll be swing trading this, whilst maintaining a long position.
Holding BAC will not bring you the returns you may be looking for, however is a safe bet for 10 -20% growth over the next 18 months.
Stormy days ahead for BanksAs you see in the charts, stocks tend to move in clusters!
Bank of America, Wells Fargo, JP Morgan Chase, and KBE(bank ETF) all have made the same price pattern..!
all shows stormy Days coming, if you have banks' stocks, maybe it could be a good time to trim your position..!
Tri Star TopBuy put 38 March 26
I always try to present the charts in a simple comprehensive format to prevent any confusion.
This is just my technical view, neither a fundamental comment,nor a recommendation to trade..!
Please review my track record and calculate the odds for yourself..!
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Option trading will expose you to high level of risk! Never put more than 5% of your capital in any option ideas!
Cup and Handle PatternsBuy when the price breaks above the top of the triangle. When the price moves out of the handle, the pattern is considered complete, and the price is expected to rise.
While the price is expected to rise, that doesn't mean it will. The price could rise a little and then fall, it could move sideways, or it could fall right after entry. For this reason, a stop-loss is needed
BAC (NYSE) - Be Carefull for Changing in TrendGreetings
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BAC (NYSE) - Be Carefull for Changing in Trend