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Bank of America

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BAC trade ideas

Bank of America Corp to Lose Ground. BACOverbought, just coming out, and now divergent. I am waiting on a sizeable drop. It is unclear whether this is going to be a Wave 2 or B, but it does not matter as both scenarios are implicitly bearish. Very short term outlook, as the view is based on an hourly chart. 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. 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
Bank of AmericaLooks like we are at a higher high on the weekly and daily timeframes. Bank of America is a nice safe stock in my eyes. Although we are in a season where alot of shopping will go on, I can see this being bullish for banks and other holiday related tickers. Bank of America holds a high position in many prominent portfolios including my Uncle Buffet's. I want to see if price can continue trading above the 20 and 50 ema. Say if there is a pullback i'd at least feel that a 38% is realistic on the daily timeframe. If it surprisingly pasts that support level, price could reach the support that was created back in July of this year. Let's see what happens. Alot of credit cards will be swiped this season and for swipe a BAC customer pays, BAC will charge a surcharge to the business for every transaction that is made. Looking forward to a nice but slow ride. Good luck!
NYSE:BACLong
by Redimere_91
1
Bank of America: Old Highs in Play?Bank of America is jumping to new 14-year highs after a strong quarterly report. This raises an important question: Will the megabank now return to its previous all-time highs from before the subprime crisis? BAC peaked at $55.08 in November 2006. It inched lower over most of the following year, before the selling cascade hit. Prices hit a nadir of $2.53 in February 2009. They’ve gradually staggered higher since. A key moment occurred in March 2020, when BAC held the 2014 and 2015 high of $18. Since then it’s been a steady recovery. The stock was back over $40 by June. BAC then started a consolidation phase with a low above $38 in mid-June. There was a dip toward $36.50 in July and another stab toward $38 last month. The result was an inverse head and shoulders / high basing pattern. BAC flew back from those lows along with the SPDR Financial ETF (also forming an outside week). It made a new 52-week high before easing back to test the August peak of $42.84. Then came a strong earnings report, with healthy loan growth, and BAC was hitting new highs above $45. (It also formed another outside week.) The stock continues on that trajectory today, with no clear resistance on the chart. Given the steepening yield curve and ongoing economic recovery, BAC may continue its move. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
NYSE:BACLong
by TradeStation
1
Elliott Wave View: Bank of America (BAC) Correction Should Find Short Term view in Bank of America (BAC) suggests the rally from July 19, 2021 low is in progress as a 5 waves impulse Elliott Wave structure. Up from July 19 low, wave (1) ended at 42.84 and pullback in wave (2) ended at 38.36. The stock has resumed higher in wave (3) with internal subdivision as another impulse in lesser degree. Up from wave (2), wave ((i)) ended at 39.80 and dips in wave ((ii)) ended at 38.94. Wave ((iii)) ended at 44.04, pullback in wave ((iv)) ended at 41.80, and final leg higher wave ((v)) ended at 44.87. This completed wave 1 of (3) in higher degree. Wave 2 pullback is now in progress to correct cycle from September 21 low before the rally resumes. Structure of wave 2 pullback is unfolding as a double three Elliott Wave structure. Down from wave 1, wave (w) ended at 43.27, wave (x) ended at 44, and wave (y) ended at 42.33. This completes wave ((w)) in higher degree. Expect wave ((x)) rally to fail for another 3 waves lower to end wave ((y)) of 2 before the stock turns higher again. Near term, as far as September 21 low pivot at 38.34 stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.
NYSE:BAC
by Elliottwave-Forecast
1
2022 will not be a good year for Bank of AmericaI know nothing about this bank, I have never traded this stock, and I have never used their products. The recent outages this weekend that made headlines made me curious enough to look at the graph. That being said... MACD is not only declining, but it's also back to where it was before the IT bubble popped in the late 90's. It has simply gained way too much in too short of a time frame. I suspect it's going to print a head and shoulders pattern. And if it does, I see a much larger breakdown in the following years and return to 2015 levels again.
NYSE:BACShort
by pxzib2
4