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Bank of America

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BAC trade ideas

Bank of America fails at zero line on GoNoGo OscillatorEarlier in the week we were looking to see if Bank of America could find support at the Gap from the beginning of the year. 
For this entire “Go” trend that started early November, the GoNoGo Oscillator was able to find support at the zero line as it should in a healthy trend. Yesterday’s price action caused the oscillator to drop below zero, and for the GoNoGo Trend to paint an amber “Go Fish” bar, as price fell through the support of the gap.
NYSE:BAC
by GoNoGoCharts
Bank of America Has Pulled Back HardFinancials were one of the best performing sectors after the Pfizer vaccine news on November 9. They’ve pulled back in the last two weeks, creating a potential opportunity in one of the biggest and most liquid names: Bank of America. BAC is trying to hold $30. Aside from its “round number” status, this level is potentially important for a few reasons. First, it was a resistance line for almost two weeks in late December and early 2021. Second, it’s almost exactly the 38.2 percent retracement level based on BAC’s move between the low on September 24 and its high on January 14. Third, the 50-day simple moving average (SMA) has been rising quickly and is now just $0.12 below $30. In fact, BAC’s low today was just $0.03 above it. Finally, stochastics are back toward oversold levels. Given the sharpness of its pullback, BAC may need to consolidate before bouncing. However its exposure to the broader economy, low valuations and liquidity (especially for options traders) makes it a potential go-to stock if the “reopening” trend resumes. Traders may want to watch for a potential bounce in coming weeks. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
NYSE:BAC
by TradeStation
8
Bank of America in risk of a trend reversalMy bearish view for Bank of America is almost confirmed. All is left is a move below $30.59 zone. RSI and MACD are flashing red and point for a continuation of the selling. Volumes are descending as activity is slowing down resent days. Since the bad earnings, the bank is under pressure from investors, but still the downtrend is not entirely confirmed. Given the broader market and perpetual stimulus, BAC may have a second chance to continue its uptrend.
NYSE:BACShort
by DailyChartist
Bank of America looking for support at gapA red, short term counter trend correction arrow came close to the high for Bank of America stock. The ensuing pullback has shown some weakness in price as the GoNoGo Trend has painted a string of paler aqua bars. Price fell into the gap yesterday but rallied to close at the top of the gap. This area (highlighted by a horizontal channel) should act as support.
The GoNoGo Oscillator, has fallen to zero as momentum has cooled and is now riding the zero line. If the “Go” trend is healthy, it should find support here. If it rallies back into positive territory expect the trend to continue to test $34.
NYSE:BAC
by GoNoGoCharts
2
BACBAC, 23JAN21, 1D Time Frame, 1-2 weeks horizon. BAC has been on a bull run the past few weeks where price action has been respecting the 21ema. At this current time, price is at the 21ema and about to touch the trendline and also at the 61.8% fib level. I anticipate a bounce from this area for another bullish move. MACD lines pointing down but over all trend is up while the histogram shows lesser momentum on the last swing high (a sign of divergence or consolidation) STOCHASTICS is pointing down but is currently at the oversold level. From here the only way to go is sideways or up. Dont forget to like and subscribe. Disclaimer I am not a registered investment advisor and do not offer investment advice and recommendation. All my post is not a recommendation, advise nor a suggestion and should not be used as a replacement for investment advice from a qualified licensed professional. All my post is for, information and entrainment purposes only. You, the reader, bear full responsibility for your own investment and trade decisions and should seek the advice of a qualified securities professional before making any investment or trade.
NYSE:BACLong
by mdd100