Bank of America marching toward its all times high(2007)Potential gain:22%
Reward/Risk:2.5
Timeframe: 3-6 months
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BAC trade ideas
bull flag break finna happen now $BACshort term play here, BAC finna take off and surpass ATHs, I like the postures of the indicators, on the 1 min time frame we are squeezing on the TTM. we are in a bullish flag on the 15min and below time frames. not much to report here the graph is pretty self explanatory. lmk what y'all think I love the feedback!!!
Bitcoin downhillLike I said, I'm not a trader, but I'm learning the basics.
There is a lot of dependency between bank of america and bitcoin. There is between DAW and Bitcoin.
There is always a principle in the traders market:
When the stock of BANK of america falls by about 3%, the market will be completely bearish.
$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.
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.