Still sidewaysThis drawing was drawn previously from a few weeks ago. I will not waste my money in here, but def set an alert for any break up or break down.
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BAC trade ideas
BoA: Volatility cannot stay as high as it has been in 2QHere’s a Thought! 20 July, 2020, by Vladimir Rojankovski, Chief Analyst, Grand Capital
Overall, financial results of the biggest U.S. banks in the second quarter were better than expected, but was given a big boost from the trading profits earned in a very volatile market. The future does not look clear as the banks were forced to build huge pileups of money to provide for future loan losses.
The biggest disappointment was certainly the Bank of America’s recent earnings release. BAC’s earnings per share (EPS) fell 50% over the past year to $0.37, which, however, beat the estimate of $0.27. Revenue of $22.45 billion declined by 3.35% YoY, again, slightly above the consensus estimate of $22.01 billion.
But since stock market investments for banks are the only visible remedy against bad loans, it’s worth to note several high-profile forecasts that in the third and fourth quarters of this year, trading revenues will be at least 20 to 30 percent lower than in the second quarter. Volatility just cannot stay as high as it has been in the second quarter.
Bank of America ShortLiking a multi-month BAC short on the breach of the yellow trendline support. Daily 200 moving avg confirming bearish outlook.
* Just an opinion/idea, not financial advice. *
ABC BullishBanks are here to stay
Earnings are over for this one. Dividend is good. Not to break out yet but close. This one will probably not POP like tech stocks do but I can sleep at night (o:
We all have different stocks we like. Not a suggestion or a recommendation
Stop under C. The nice thing about ABC patterns is the stop is close by
BAC can make a bigger move to the upsideBAC is in uptrend, coming from a wedge breakout and has just broken + retested the H4 SMA near its confluence zone. MACD is signaling a buy setup with a smooth divergence. The asset is not overbought and has a value in the longer run. Nice R/R with 2,6:1. In case of further bull mood in the markets it can reach the daily 200 SMA + strong supply zone.
Future outlook on Bank Of AmericaBAC broke its multi-decade trend, also broke its 2009 support line, would need to get above both before I would consider buying.
Bank of America (BAC) Earnings Estimates Q2 2020Bank of America ($BAC) will report earnings 07/16/2020
The above chart includes $BAC earnings estimates (source: Yahoo Finance Premium) and a technical analysis.
Near term strength in BAC?Expectations are near-term strength as the rest of the market tries to make new highs behind the Nasdaq.
BanksLike the airline stocks, big banks have all formed similar patterns leading into Monday. Funding seems to have shifted to the banks and airlines. Many banks will be reporting earnings this coming week, including JPM, WFC, Citi (not shown) on Tues. 7/14, USB and GS Wed. 7/15, and BAC, MS, and First National Bank (not shown) Thurs. 7/16.
BAC - Channel Bottomed Bottom of channel hit. Blue line is first target, red line second target. Good luck!
BAC 30Earnings again this week. Clearly everyone is going to be making puts so I suggest calls. I am joking please don't. So it's looking like it broke out of the first downtrend channel, went into another little sell-off, and then moved back out of the downtrend on Friday. Volume wasn't high so no indications of a bullish move. Looking at Monday for the next candle. Resistance is 24.05. After that, we go to 26-27. IMO, I don't think the government will let the banks fail. Idk how Banks usually make money, I assume loans but idk the number of loans being made during this pandemic
trade smart
BAC, Buy PUT Aug 21st $23BAC, Buy PUT Aug 21st $23
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Bank of America testing trend lineBank of America is near a three-month trend line today as the entire market pulls back. $BAC is far from the strongest of the bank stocks, which are a weak sector in general, so it's quite possible it won't hold the support. I've picked up a July 31 option call and set an alert to trigger to me to sell if it crosses below the trend line. Estimize is forecasting small beats on both EPS and revenue on $BAC's next earnings report.
BAC - Long - Nice upside already in process NYSE:BAC
Here you can see the move has already begun on the 30M chart with a nice hit on the daily trendline u see at bottom. It may break over tomorrow or give us a nice entry if it opens down tomorrow. Stay tuned.
BAC - Long - Potential upside soon! We already formed bullish divergence and another may form if we open lower tomorrow with a potential 3rd bounce on TL for the push up. I'd keep my eyes peeled open on this one and other banks. NYSE:BAC
