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BAC trade ideas

💰 A LITTLE MORE DOWN AND THE FED WILL BEGIN TO SAVE THE BANKS 📣 Hello everyone! I believe that the entire growth up to 2006 is the first impulse wave of the cycle, which stretched for about 33 years. From 2006 to 2009, the ABC zigzag in the wave of the second cycle adjusted the entire growth by -95%, pushing the price of Bank of America shares back 25 years. I am now considering with a hypothesis the completion of the correction of the wave-the second cycle in 2009, and all subsequent market activity is part of a complex segmented impulse wave iii of the cycle. Accordingly, I believe that the decline in the shares of the second bank in the United States, which began in 2022, will continue in 2023, and moreover, the decline has already begun. But according to the hypothesis I am considering, I am more inclined to believe that the downward trend, that is, this ABC zigzag will end in the area of wave-4, which is part of wave 3 of the higher intermediate level. After that, it would be logical to expect a trend reversal and the beginning of growth in the impulse wave-5 of the intermediate level with a goal of $ 62 per share approximately in 2024/2025. The cancellation of the scenario I am considering will be a breakdown and consolidation below the level of $ 19.86, that is, the completion of wave-4 below this level. 😱 If the price is fixed below this level, it is likely that the fall may continue up to $ 2 per share, so it is worth paying attention to this key level now. ⚡️ ⚠️ As always, I wish you good luck in making independent trading decisions and profit ✊ Goodbye!
NYSE:BACLong
by AnonymousTraderAcademy
Further Bank of America drops anticipated. BACShorting Bank of America a bit more, we just need to reach some of those Fibonacci goals. We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Confirmation level, where relevant, is a pink dotted, finite line. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe.
NYSE:BACShort
by Rykin_Capital
Band Of America Gross unrealized losses $113.5 BillionBand Of America Gross unrealized losses $113.5 Billion Bank of America is one of the world's leading financial institutions, serving individuals, small- and middle-market businesses, large corporations, and governments with a full range of banking, investment management and other financial and risk management products and services. Our products and services. WEDGE — A chart formation in which the price fluctuations are confined within converging straight (or practically straight) lines.
NYSE:BACShort
by ByteMEME
1
BAC | Time to Accumulate | LONGBank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. Its Consumer Banking segment offers traditional and money market savings accounts, certificates of deposit and IRAs, noninterest-and interest-bearing checking accounts, and investment accounts and products; and credit and debit cards, residential mortgages, and home equity loans, as well as direct and indirect loans, such as automotive, recreational vehicle, and consumer personal loans. The company's Global Wealth & Investment Management segment offers investment management, brokerage, banking, and trust and retirement products and services; and wealth management solutions, as well as customized solutions, including specialty asset management services. Its Global Banking segment provides lending products and services, including commercial loans, leases, commitment facilities, trade finance, and commercial real estate and asset-based lending; treasury solutions, such as treasury management, foreign exchange, and short-term investing options and merchant services; working capital management solutions; and debt and equity underwriting and distribution, and merger-related and other advisory services. The company's Global Markets segment offers market-making, financing, securities clearing, settlement, and custody services, as well as risk management products using interest rate, equity, credit, currency and commodity derivatives, foreign exchange, fixed-income, and mortgage-related products. The company was founded in 1784 and is based in Charlotte, North Carolina.
NYSE:BACLong
by DivergenceSeeker
1
Investors are caught-up in the Regional Banking fiascoShares in the banking sector have taken a hit amidst Silicon and Signature banking fiasco. In an attempt to recoup investors' confidence, the treasury secretary has ruled out any bailout plans. The fed chairman has also ensured that depositors would have access to their funds. Despite all the efforts, the market seems skeptical, and the regional banking crisis is causing short-term sell-offs across the baking sector. Bank of America (BAC), the second largest bank in the US with total assets of $3.05 trillion, is down by 5.81%. The trading volume increased to 210.5 million shares, making BAC one of the most actively traded instruments. BAC stocks have been tumbling for the past week. It's too early to conclude it would be Lehman Brothers circa 2008/2009, said Abrar Bhatti, a Specialist at Exness, BAC indeed seems 'too big to fail.' The depositors may accelerate the shift towards the large banks from the regional ones. The main challenge for the regional banks is if they can compete with the big banks, with their limited liquidity and diversification. On the technical side, since July 2022, per share price has been consolidating between the $29.50 support and $37.00 resistance area. After the March CPI data, the BAC stocks are trading around the support area of $29.50. Also, the price is trading below 50MA, and the bears could push the market down to the $25.00 support area. In the Monthly charts, a push below the $20.00 support area, which coincides with a 61.8% fib retracement of the wave beginning around January 2012, would expose BAC shares to further losses. That would be one of the indications of a full-blown recession. On the upside, RSI is already in the oversold territory. If the bears are unable to push the price down on the subsequent attempts, bulls would be looking to break minor resistance of $30.80 and $33.00 in intraday trading.
Editors' picks
NYSE:BAC
by Exness_Official
7
Bank of America (BAC) Shows Bearish Elliott Wave SequenceBank of America (BAC) shows a lower low bearish sequence from 1.10.2022 high favoring further downside in the stock. Near term, cycle from 2.8.2023 high is in progress as a 5 waves Elliott Wave impulse. Down from 2.8.2023 high, wave 1 ended at 33 and rally in wave 2 ended at 34.56 as the 1 hour chart below shows. The stock resumes lower in wave 3 with internal subdivision as another 5 waves impulse in lesser degree. Down from wave 2, wave ((i)) ended at 32.8 and rally in wave ((ii)) ended at 33.15. Stock resumes lower in wave ((iii)) towards 30.08 and wave ((iv)) ended at 30.81. Final leg lower wave ((v)) ended at 28.92 which completed wave 3 in higher degree. Wave 4 rally ended at 31.50 with internal subdivision as a zigzag. Up from wave 3, wave ((a)) ended at 31.04 and wave ((b)) ended at 29.95. Third leg wave ((c)) ended at 31.50 which completed wave 4. Stock resumes lower in wave 5 with internal as a diagonal. Down from wave 4, wave ((i)) ended at 28.10 and wave ((ii)) ended at 31.05. Wave ((iii)) ended at 27.87 and wave ((iv)) rally ended at 30.57. Expect the stock to end wave ((v)) of 5 soon and this should complete cycle from 2.8.2023 as wave (1). Afterwards, stock should rally in wave (2) to correct cycle from 2.8.2023 high before the decline resumes. As far as pivot at 34.56 stays intact, expect rally to fail in 3, 7, or 11 swings for further downside.
NYSE:BAC
by Elliottwave-Forecast