BAC/PO trade ideas
BAC Bank of America SHORTBAC is shown here on the 15 minute chart. Fundamentally, it is under pressure like
many other banks including First Republic.
On the chart, price is in a downtrend having bounced from VWAP (redline)
in confluence with the blue line of the top of the high volume area of the
volume profile. Price is underneath the blackline which is the 210 HMA.
Only shorts should be taken underneath that line.
The target is the thin red line below which is the bottom of the low volume area.
Accordingly, the thin red line is the target while the thin blue line or the
VWAP (thick red) are the stop loss levels. This is a very safe trade with
an acceptable R:R.
My put option @ $ 28.50 for expiration 5/12 gained 68% overnight.
I will ride this down and then look for the reversal trade.
Multiple indicators continue to support the BTC market.BINANCE:BTCUSD
Fundamental Analysis:
The third major financial event of May is coming up, the interest rate meeting and the non-farm payrolls data.
All financial market investors are watching for the speech at the May 2 meeting. If Powell changes his position from the last meeting that "a pause in rate hikes will not be included in this year's benchmark issue" and instead adopts a more dovish tone, then the dollar index will see a sharp drop.
Market data suggests that the probability of the Fed ending the year with rates between 4.25-4.50% has reached 83%, while the probability of ending the year with rates between 4.50-4.75% has dropped to 17%. This data also suggests that the market does not expect the Fed to continue to raise rates significantly at its next meeting, which will provide stronger support for the cryptocurrency market.
The decline in the US dollar index will attract a large number of investors to the US dollar-denominated BTC market.
Technical analysis: From a technical perspective, BTC is currently on the 4H chart of the Elliott Wave push, which has set the stage for the start of the fourth wave. If this pattern is to build a fifth wave, then the key support level of the current structure will move up to the S3 price range. In terms of the medium-term layout, the end of the above-mentioned fifth wave would be at T1 near 31,300, T2 near 34,000, and T3 near 38,300.
If short-term prices fall to S2 and oscillate around the midline, a relatively common triangle pattern could easily form. In the short term, the market is still waiting for the May 2 meeting to land and form a triangle pattern for an upward breakout.
One scenario to keep in mind is that if Powell continues his strongly hawkish tone at the interest rate meeting, the dollar will continue to be supported in the short term. If BTC is influenced by fundamental analysis and falls below the support level of S3, the pattern will be broken and we will consider the whole trend as a head and shoulders bottom pattern. Therefore, a short-term correction may occur during the meeting, but considering that the Fed's continued rate hikes may trigger market fears of recession, speculative products such as cryptocurrencies can still continue to build long positions after the fundamental analysis stabilizes.
BANK OF AMERICA Stock Chart Fibonacci Analysis 042623Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 28.7/61.80%
Bank of America Monthly Log ChartBank of America chart telling you to STAY CLEAR.
You have been warned.
#BankingCrisis #Banks #BankingSector
"wall" (previous resistance turned support)
$BAC with a bullish outlook following its earnings #StocksThe PEAD projected a bullish outlook for NYSE:BAC after a positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 50%.
BAC: Sell ideaSell idea on BAC as you see on the chart after the breakout of vwap and support.Thanks!
Bank of America Long. Weekly chart.Having bounced off the lower boundary of the regression channel, B of A seems to be on the verge of a false breakdown. Looking for a close above the horizontal resistance line.
Potential Swing Trade Idea: BAC I tried to play calls at this decisional demand zone but cut early. Our sweep of our decisional demand could not get us above $30.19 so I'm expecting we drop further to demand starting at $29.60. I'm hoping see a bounce at $29.50 playing out to get us back to the highs around $31.
BAC breakout nearingI believe the charts don't lie but man is the economy f-d right now. interesting to see how this plays out.
BAC - long term short target in 2+ zoneBAC has similar to MS setup though looks to have started wave 3 of circle wave 1 already. Expect to see circle wave 1 landing somewhere in 15+ zone before a pullback in circle wave 2 sometime in 2026. Bear in mind this is the view on the financial sector, which imo is leading the market and can be used as a benchmark for the US economy. Major stocks (big tech, consumer staples, etc) still have a great chance to post new highs either in 2024 (AAPL) or 2026 (GOOGL).
$BAC Technical Analysis: Key Levels to Watch Ahead of EarningsIn this video, we'll take a closer look at the technical analysis of Bank of America ( NYSE:BAC ) ahead of earnings and identify key levels to watch. Starting with the weekly chart, we'll analyze the overall trend and momentum of the stock. Moving to the daily chart, we'll look at recent price action and important levels of support and resistance. Next, we'll examine the 4-hour chart for any short-term trends or patterns. Finally, we'll analyze the 1-hour chart to identify potential entry and exit points for traders. By the end of this video, you'll have a better understanding of the technical outlook for NYSE:BAC and key levels to watch ahead of earnings.
BAC Bank of America Medium Term OptionsI think BAC Bank of America is one of the few beneficiaries of the small banks bank run that we are witnessing today.
Big banks are the safest places where you can place your money right now.
Looking at the BAC Bank of America options chain, i would buy the $30 strike price Calls with
2024-1-19 expiration date for about
$2.85 premium.
Looking forward to read your opinion about it.
BAC Support at LowsLong idea.
BAC is a stock that has been negatively affected by the recent issues with regional bank stocks. While the bank seems fundamentally sound, I think there's an opportunity to go long for mean reversion.
Has been in a daily downtrend since the beginning of March and has hugged the 2sd 20D. However, price has stalled 26-28 and is seeing some high volume, implying big buying at these levels. A distribution has been built here at the lows, and R:R for long punt down here feels like risk is to the upside.
Buy targets are 27-28 / 26.
Profit targets are 29 / 30 / 31 / 33.
Banking turmoil took its toll on Bank of America’s share Bank of America Corporation (symbol ‘BAC’) share price was trading in a slightly upward trend because the bank failures hit mainstream media and drove the share price of BAC down. The company is expected to report its earnings for the fiscal quarter ending March 2023 on Tuesday 18th of April before market open. The consensus EPS for the quarter is $0,80 compared to the result for the same quarter last year of $0,80.
‘Bank of America could not be unaffected by the banking turmoil in early March that resulted in pushing its share price down by more than 25%. ’ said Antreas Themistokleous at Exness. ‘ As of 31/12/2022 the current ratio of the bank was at 78% meaning that they do not have the ability to repay their short term liabilities with the current assets currently in possession and this might be seen as a red flag by potential investors and traders.’
From the technical analysis perspective the price moves in a sideways momentum in the last couple of weeks after the consecutive bank failures with investor confidence still not regained even after measures from central banks. Currently the price is facing resistance on the 20 day moving average while the Stochastic oscillator is in the overbought level. The Bollinger bands are contracting showing dried up volatility in the market while the HKEX:29 price area is a strong resistance since it is made up of the 23.6% of the daily Fibonacci retracement level and also the area where the price failed to break above it since mid March.
BAC, 10d+/-13.5%falling cycle -13.5% more than 10 days.
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This data is analyzed by robots. Analyze historical trends based on The Adam Theory of Markets (20 moving averages/60 moving averages/120 moving averages/240 moving averages) and estimate the trend in the next 10 days. The white line is the robot's expected price, and the upper and lower horizontal line stop loss and stop profit prices have no financial basis. The results are for reference only.
$BAC Butterfly Harmonic on the dailyNYSE:BAC hitting a butterfly harmonic heading into earnings next Tuesday.
$BAC - Hourly chart showing potential inverse head and shouldersI published a chart previously that BAC is in attractive entry zone. This is the supporting chart showing a potential inverse head and shoulders on the hourly with right shoulder yet to complete.
If the IHS materialized/validate, we can see $31.50 near term.
$BAC - Attractive entry NYSE:BAC came close to filling the gap ($25ish) created in 2020 but recovered without filling.
Target 1 - $29.44
Target 2 -$32.00
Risk - Fall to fill the gap around $24-5
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Trade is done when it hit one of the target or stop loss is hit.
Disclaimer: Trading note. Not an investment advice.
BAC on a weekly, monthly trendline BAC, despite all the problem the banks are facing, I believe BAC is on a good price to go Long. This is a an early call to take advantage of the drops.Price is touching a very strong trend line. If price cross the trend line down close the position.
Ariel
