BACHere my Analysis to BAC. possible ABC-correction in the 30 minutes Chart. (all Information in the Chart)
Just my opinion no financial advice.**
BAC/PO trade ideas
Elliott Wave View: BAC Approaching Short Term Support Short term Elliott wave view in Bank of America (ticker: BAC) suggests the rally from January 27, 2020 low is unfolding as a 5 waves impulse Elliott Wave structure. Up from January 27 low, wave ((i)) ended at 33.49 and pullback in wave ((ii)) ended at 32.65. The stock has resumed higher in wave ((iii)) which ended at 35.45. Internal of wave ((iii)) subdivided in 5 waves impulse in lesser degree. Up from 32.65, wave (i) ended at 33.40, and wave (ii) pullback ended at 32.92. Stock then resumed higher in wave (iii) towards at 35.01. Wave (iv) pullback ended at 34.24 and the final leg wave (v) of ((iii)) ended at 35.45.
Wave ((iv)) pullback is in progress to correct cycle from January 30 low before the stock resumes higher in wave ((v)). The pullback is unfolding as a zigzag structure where wave (a) ended at 34.78 and wave (b) ended at 34.97. Potential area to end wave (c) of ((iv)) is 100% – 123.6% Fibonacci extension from February 12 high which comes at 33.9 – 34.3. From this area, BAC can then extend higher or at least bounce in 3 waves.
BAC LONG TERM HOLDAfter a nice push to the upside, its time to see a retest all the way to the $28 level in my opinion. We have earnings coming in April so this could perhaps be a good set up.
Entry: $28
TP: $35
SL: $27.50
BAC Ascending Wedge and Repeating PatternAscending Wedge pattern, usually proceeds in waves of three, this is a bearish reversal pattern. It can also be seen that a repeating pattern of a drop followed by a lower high can be present in three different situations, including the 2008 stock market drop, will it repeat itself again? Probably.
$BACBAC Ascending channel broke down, now testing fresh 33.8 supply. Adding puts there with tight stop is good idea. If gaps lower, wait for retest of 33.8 before shoring agian OR wait for further break of 32.5 demand. More downside expected for BAC most likely.
BAC earnings reportUpdate for everyone I don't care about. I got fucked on my long position, because 7 billion dollars in profit and beating expectations is a no go for investors. I am still holding my call because it expires in April and I do believe it will go up and Ill be able to make back my loss. Also trust this chart it is 100% real.
Long BAC into earnings Entry level $36.00 = Target price $39.35 = Stop loss $34.40
Below blue trend line looks like a short but long above.
P/E ratio = 12.80
Yield = 2.07%
Average Recommendation:Overweight Average Target Price:$37.29
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BAC: Confirmed long term trend...I published this one only now, I've been long for a good while, and banked profits recently. I bought $BAC today, near the closing price. I think this stock is primed for a huge rally, that will end in a new all time high by 2021. Definitely one of the strongest long reccomendations I can make to benefit from the long term trend that is active in the S&P500 right now.
Management is very competent, and earnings reports have been very positive for the company since banking regulations started being eased recently. This is a big positive for financials, and with $BAC's capable CEO continuing to reach their goals on time, reducing costs and operating at huge efficiency ($BAC has one of the highest efficiency ratios among its peers), and most people pessimistic about the outlook of the economy and the stock market, the path of least resistance is up.
Just a chart to show myself past earning calls.This is for me, I really don't care what you think about this.
Personally I am going long, and expecting a positive earning report and then a 2.5% gain within 15 days.
BAC Buy @ 15M Time frame | Entry valid only for 6 Jan 2020Entry: 34.66
SL: 34.50
Target 34.98
Trading time frame: 15M
Stock in uptrend after steep correction
Bank of America: Example How to Trade Against The TrendIt is a very good example, which explains how to trade against the main trend.
The price reached the upper line of the price channel. We got a trend reversal signal based on a bearish divergence. RSI is bearish, MACD supports a possible downward movement.
If the price breaks the local uptrend line, it will confirm the downward movement. The market will be able to correct the previous strong upward movement and reach the zone between SMA100 and the weekly uptrend line. This zone will be good for buying based on confirmed reversal signals.
$BAC34.5 demand has confluence also with channel support trendline and 200 sma on the H1. Good Scalp/Day trade entry level. if breaks, retest of that area to 33.6 level is good entry for short.
BAC Intraday Buy | Valid only for 24 December 2019On intraday time frame, trend is up and no nearby credible price point for trend reversal
Entry: 35.11
Stop Loss: 35.00
Target: 35.33
Valid only for 24 Dec 2019
