BAC/PO trade ideas
$BAC weekly chart, Crab harmonic setup
Crab Pattern harmonic setup.
Currently 45.86
PRZ = 50.19
1.902 Special Situation Fib = 52.83
HOP / SLZ = 53.74
Once we achieve PRZ, will then evaluate for the retracement setup.
BAC GAP As you can see, BAC has a GAP that might be filled next week. We’ll be waiting for it to break the trend, and it's very important to wait for the retest before buying
Have a great day! :D
To keep in portfolioNYSE:BAC
The next target is 50 dollars.
If you have any questions, feel free to contact me.
BAC - Big Tumble AheadDespite Fed attempts to juice the economy with interest rate drops, looks like the dollar and the US economy in general is set for some reversion to the mean. Many articles claim that the Fed is bankrupt and as longer term interest rates continue to climb, Bank balance sheets are surely in a perilous condition. ANd that's only what we see. So many other off shore, non reportable bank entities are masking the true disaster that bank stocks really are.
I held put positions this past year in bank stocks but it has not yet panned out in my favor. Doesn't mean that I'm wrong though. My ideas are usually sound but my timing is seldom spot on. I.e, I've been buying physical gold and silver since 2014. The real challenge is living long enough to see my ideas get realized.
As I plan for my 2025 positions, I'll surely be adding some bank puts to my portfolio.
Bank of America (daily - log )Hello community,
Following the publication of Warren Buffet's results, I looked at the Bank of America stock.
Since the beginning of the year, performance 28%
Why did you sell the stock, there must be a reason that I don't know.
Upward trend, I put the 3 accumulation zones on the chart.
Make your opinion, before placing an order.
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$BAC with a bullish outlook following its earnings #StocksThe PEAD projected a bullish outlook for NYSE:BAC after a negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 66.67%.
BAC Bull FlagI'm still bearish on BAC for.the long term, but can't ignore this bull flag on the 15m. It has a chance for a nice breakout and move up to retest the major trend above. Could be a good one to long on the break and then flip short on the trendline test.
BANK OF AMERICA Short-term buy signal.Last time we gave a signal on the Bank of America Corporation (BAC), was exactly a year ago (October 11 2023, see chart below), with the stock giving us a highly profitable buy trade, hitting the $44.00 long-term Target:
This time our focus is on the shorter term 1D time-frame where the stock is forming a Bullish Megaphone similar to the one in January - March 2024. Currently the price is pulling back (blue circle) and the symmetric pattern of mid March 2024 suggests that it should now rebound towards the 2.0 Fibonacci extension.
As a result, we are turning bullish mid-session, targeting $44.00 (above Fib 2.0 and below Resistance 1).
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BAC Trend Break UpdateI've been watching this one for a while now, so here's an update. So far BAC has been trending up since its major trend break, but I consider this uptrend to be secondary to the primary trend that was broken. I still like the short until it reclaims or breaks above the previous swing high around $44.45. You could short in this area or use the trendline for an entry.
For downside targets, we have a shorter term trendline below and then the previous swing low around $35.14. If that breaks, final target will be 2023 lows around $25.
Bank of America Stock Surge on Q3 Earnings BeatBank of America (NYSE: NYSE:BAC ) delivered impressive third-quarter results, showcasing its resilience amid a challenging economic landscape. The bank reported $25.34 billion in revenue, slightly up from $25.17 billion a year earlier and above the analysts' consensus projection of $25.28 billion. Although profit fell to $6.90 billion ($0.81 per share) from $7.8 billion ($0.90 per share) last year, this was still better than the expected drop to $6.45 billion** or $0.75 per share.
Key Financial Highlights:
- Net Interest Income (NII) was reported at $13.97 billion, down from $14.38 billion a year ago but exceeding the expectation of $13.85 billion.
- The bank's trading revenue saw a significant uptick, with fixed income trading revenue rising 8% to $2.9 billion and equities trading jumping 18% to $2 billion.
These results come on the heels of similar positive reports from rivals like JPMorgan Chase and Wells Fargo, highlighting a robust start to the big bank earnings season. This broader positive sentiment in the banking sector is likely contributing to a favorable outlook for Bank of America.
Technical Analysis
As of the time of writing, NYSE:BAC shares are up 1.62%, signaling a bullish trend. The stock has recently rebounded from a consolidation zone, gathering momentum for further upward movement. A key indicator of this bullish sentiment is the Relative Strength Index (RSI), currently hovering around 71, indicating that the stock is entering overbought territory.
The stock's performance is further supported by its trading above key moving averages, which traditionally signals a strong bullish trend. Analysts note that this upward momentum, combined with the bank's robust earnings, positions Bank of America (NYSE: NYSE:BAC ) favorably for potential further gains, especially as NII shows signs of recovery.
Investment Implications:
The current trajectory suggests that Bank of America (NYSE: NYSE:BAC ) is turning a corner in terms of NII, as indicated by analysts like Wells Fargo's Mike Mayo. With the Federal Reserve having recently cut interest rates, analysts believe this should help improve bank earnings moving forward, as lower deposit costs may enhance profitability.
Additionally, with a provision for credit losses reported at $1.5 billion, slightly under the estimated $1.57 billion, the bank appears to be managing its risks effectively, further instilling confidence in investors.
Conclusion
Bank of America's latest earnings report reflects a strong performance amid a dynamic banking environment. The combination of better-than-expected trading results, a recovery in NII, and robust investor sentiment positions NYSE:BAC as a compelling investment opportunity. As the bank continues to navigate the evolving landscape of interest rates and economic conditions, investors may want to keep a close watch on its performance in the upcoming quarters.
Bank of America updateMy son said to me dady I wanna be like you when i grow up,I wanna trade big banks n stock market like you,I said to him is not easy but bcz amstil alive you are going to learn in good way,note that whatever knowledge you are invested in you are not only doing it for you but for your intier family your kids should learn from you,ameracn big banks in focus JP Morgan beat estimate on earnings aswell growth continue.
Bank of America priced in silverClock it ticking...
#silver #banks
continuation breakdown
capitulation volume
BAC Major Trend Break + Bear FlagBAC recently broke below its major uptrend from the 2023 low. It's been consolidating below and forming a a bear flag. On top of bad technicals, Buffet is unloading his stake like there is no tomorrow. The balance sheet looks horrible as well. These are not reasons to buy short dated puts. This is one you'll want to let play out over time.
Either way, if it does break below this bear flag we should see continuation down to the prior swing low around 35. Next target after that would be the flag pole target and 2021 lows which is also a psychological number around 30. That would be a huge drop if it gets there, it would take some time most likely. If it can't hold there, final long term target is going to be the 2023 low around 25 for me. My targets turned out to be about every 5 dollars down, interesting and that makes it it pretty easy to follow as well.
$BAC: take profits at $43, with greater long-term gains possible
Bank of America Corp. 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 (GWIM), Global Banking, Global Markets, and All Other. The Consumer Banking segment offers credit, banking, and investment products and services to consumers and small businesses. The GWIM segment offers solutions to meet clients’ 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.
Can Bank of America Break Out?Bank of America fell sharply over the summer as Warren Buffett sold shares. But now some traders may think the lender has stabilized.
The first pattern today’s chart is the rally between early August and early September. BAC retraced half the move before returning to the upside. That may suggest that buyers are in charge.
Second, the bounce occurred at the 200-day simple moving average (SMA). The 50-day SMA is also above the 100-day SMA and both are higher than the 200-day SMA. That order, with the faster SMAs above the slower, may be consistent with a longer-term uptrend.
Third is the September 4 high of $40.95. The stock pushed above this level on Thursday before slipping back below it. Will traders view it as a trigger for a breakout?
Finally, our 2 MA Ratio custom script shows that the 8-day exponential moving average (EMA) has crossed above the 21-day EMA. That may reflect increased bullishness in the short term.
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Top 5 Weekly Trade Ideas - BAC QQQ BTC GOOGL RBLXA video review of this week's top 5 trade ideas. I'll link the text versions below. It should be a good week, hopefully we don't chop again and find out if SPY is going to hit a new ATH or if it's going to be a double top.
Bank of America investment.What I know is that I always see right direction n I don't fold n try to goo against clear trend cz I feels like is to high or low I make sure I follow the right directions by right time,before you start drawing graphs I identify the trend,then goo to drawing board n make sure you don't fold you are following the right trend n understanding it's pull back,if you gonna use this,it's going to change your trading career forever n less looses,even a single day don't trade against the trend find it follow.
BAC Short Idea - Top 5 Weekly Trade Ideas #1I don't normally care about what insiders or large funds do because you can never know the motive of that person. However, Warren Buffet has been dumping his stake in BAC lately. He had a very large stake, so it appears he is expecting BAC to see some downside, or he simply wants the cash for something else. I wouldn't want to be longing something Buffet is dumping like this, but he usually has a much longer time horizon than most so I wouldn't expect it to work right away. Buffet has been indicating for several months that he prefers cash over equities right now, something to consider.
That being said, we can use TA on top of everything else to optimize risk/reward. The chart is bearish, it recently broke below a major uptrend from 2023. It's had a nice recovery, but is nearing a retest now. I'll look for puts if it retests the trendline, I'd expect it to reject and eventually break the recent lows as well. It's not super short term idea, but I do think there's a good chance of some short term downside soon. I think this is a trade you can buy lots of time on and just relax. I'd expect a stable decline in the future unless it reclaims that major trendline from 2023.
Is Bank of America's future gloomy amid Warren Buffet sale? Join me as I dive into Warren Buffett's massive sale and see if it really spells trouble for Bank of America!
Warren Buffett is without a doubt one of the most celebrated investors of our time. With a track record that spans over five decades, his investment decisions are closely watched by the financial community, and for good reason. Berkshire Hathaway, his multinational conglomerate holding company, has consistently beaten the market, making him one of the most successful investors in history.
Warren Buffett's recent sale of a significant portion of his Bank of America stake has sent shockwaves through the financial community. The concerns are obvious - what does this mean for Bank of America's future, and more importantly, what does this mean for its investors? Is Buffett's sale a vote of no confidence in the bank's ability to navigate the current economic landscape, or is there something more at play? As we dive deeper into the details, it's clear that Buffett's sale raises more questions than answers.
The sale itself is significant, with Buffett offloading a sizable chunk of his stake in the bank. This is no small move, especially considering his long-standing history with the bank. The question on everyone's mind is what triggered this sudden sale, and what does it mean for the future of Bank of America? The possible implications are far-reaching, and it's essential to consider all the factors that may have contributed to Buffett's decision.
One possibility is that Buffett is taking a more cautious approach due to the current economic uncertainty. With interest rates on the rise and global economic growth slowing, it's possible that Buffett is sensing a shift in the market and is taking steps to protect his investments. Additionally, the ongoing COVID-19 pandemic has created a level of uncertainty that may be causing Buffett to reassess his investment strategy.
Another possible reason for the sale could be related to Bank of America's performance leading up to the sale. While the bank has made significant progress in recent years, its stock price has struggled to gain traction. Perhaps Buffett is simply looking to rebalance his portfolio and allocate his resources to more promising investments.
It's also possible that Buffett's sale is a sign of a broader shift in investor sentiment. With valuations at historic highs and concerns about a possible market correction growing, perhaps Buffett is merely taking a more defensive stance. After all, it's not uncommon for investors to take profits off the table when the market is at an all-time high.
The critical insight from Buffett's sale is that it may signal a shift in investor sentiment, not just for Bank of America, but for the banking sector as a whole. If Buffett, one of the most astute investors in the world, is taking a more cautious approach, it may be wise for others to take notice. It's also possible that this sale is a harbinger of a broader market correction, which could have far-reaching implications for investors and the economy as a whole.
In conclusion, Warren Buffett's sale of his Bank of America stake raises more questions than answers. While we may never know the exact reasoning behind his decision, one thing is clear - it's a significant move that warrants attention. As we move forward, it's essential to keep a close eye on Bank of America's performance and the broader market trends.
What do you think about Buffett's sale? Do you think it's a sign of trouble for Bank of America, or just a smart investment move? Let me know in the comments below, and be sure to LIKE, SHARE and most importantly SUBSCRIBE to this channel, while also not forgetting to check out my other videos on Cryptocurrencies and Stocks for more financial insights!
Entry price - buy at current price.
Exit - sell between $132 - 145.
Profit target - 250%
Is Warren Buffett Losing Faith in Bank of America?A Strategic Shift with Far-Reaching Implications
Warren Buffett, the legendary investor and CEO of Berkshire Hathaway, has taken a significant step that has sent ripples through the financial world. Berkshire, a long-time major shareholder of Bank of America (BofA), has been steadily selling its stake in the bank. This strategic move, totaling over $3.8 billion in sales, has raised eyebrows and sparked speculation about the future of BofA.
Buffett's decision to reduce Berkshire's holdings in BofA is a departure from his typical investment strategy, which often involves long-term, unwavering commitments. This shift raises questions about his perception of the bank's prospects and the broader financial landscape.
The implications of this move extend beyond Berkshire and BofA. As one of the most closely watched investors in the world, Buffett's actions can influence market sentiment and investor behavior. His decision to sell BofA shares could signal a potential shift in his outlook on the banking sector or broader economic conditions.
To learn more about the reasons behind Buffett's decision, the potential impact on Bank of America, and the broader implications for the financial sector, please visit our website.
Trade @ 4hr Demand zone.Waiting for weekly uptrend to break
Monthly: Uptrend. two supply taken out.
Weekly: Uptrend. Waiting for uptrend to break
Daily: Downtrend.
4hr: Demand zone at 17th April 2024 is being tested before weekly consolidation is confirmed. But once weekly consolidation is confirmed, there are chances 4h demand zone can be retested.
