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BAC trade ideas

B.A.C BANK OF AMERICA DESCENDING BROADENING WEDGE (END & ID) BANK OF AMERICA : BAC DESCENDING BROADENING WEDGE EN : WE CAN SEE THAT BAC IS FORMING A PATTERN CALLED DESCENDING BROADENING WEDGE THIS PATTERN IS A STRONG BULLISH PATTERN, WE HAVE TO WAIT UNTIL CANDLE BREAKOUT FROM THE PATTERN, THERES GOT A CHANCE THAT BAC WILL DO HIS DOWN MOVEMENT TO AROUND 23.95 - 22.58 AREA THE REASON IS SIMPLE 1. STOCHASTIC OSCILLATOR HIT THE OVER BOUGHT AREA 2. WE CAN SEE THE SWING HIGH AT TOP ON 3 SEPT 2020 LOWER HIGH (LOWER PEAK) AT STOCHASTIC MAKING A LOWER HIGH (LOWER PEAK) AND 12 OCT LOWER HIGH AGAIN (LOWER PEAK) BUT THE STOCHASTIC IS HIGHER HIGH (HIGHER PEAK) SO A BEARISH DIVERGENCE IS FORMED THIS MEAN BAC WILL DO HIS DOWNSIDE MOVEMENT SURE BAC WILL CONTINUE HIS BULLISH THAT WE CAN SEE AT WEEKLY CHART THE TREND IS STILL BULLISH IF THE BREAKOUT HAPPENED BAC TARGET PRICE WILL BE AT 27.75 THIS IS THE PATTERN TARGET PRICE BAC ALSO WILL CONTINUE ITS BULLISHESS UNTIL 30.45 AND 34.05 BECAUSE OF THE GAP AREA BUT MAYBE IT TOOK TIME FOR CLOSE THIS GAP EITHER 2021 OR 2022 THANKS. … ID: KITA BISA MELIHAT BAC SEDANG MEMBUAT PATTERN YANG DISEBUT DESCENDING BROADENING WEDGE PATTERN INI ADALAH PATTERN BULLISH, KITA HARUS MENUNGGU SAMPAI DENGAN CANDLE BREAK OUT DARI TRENDLINE DBW INI, TETAPI SEBELUM NAIK AKAN TERJADI PENURUNAN HARRGA KE ANTARA 23.95 – 22.58 ALASANNYA SIMPLE 1. STOCHASTIC OSCILLATORNYA SUDAH MENCAPAI TITIK JENUH PEMBELIAN 2. KITA BISA LIAT SWING HIGH YANG DIATAS PADA 3 SEPT MEMBUAT LOWER HIGH(LOWER PEAK) DAN DI STOCHASTIC JUGA MEMBUAT LOWER HIGH (LOWER PEAK) DAN PADA 12 OCT MEMBUAT LOWER HIGH LAGI TETAPI STOCHASTICNYA MEMBUAT HIGHER HIGH (HIGHER PEAK) JADI TERJADILAH BEARISH DIVERGENCE INI BERARTI BAC AKAN ADA PENEURUNAN HARGA TENTU BAC AKAN MELANJUTKAN BULLISHNYA DAN KITA JUGA BISA MELIHAT PADA WEEKLY CHART TREND BULLISH MASIH ADA JIKA BREAKOUT TERJADI MAKA TARGET PRICE BAC AKAN PADA 27.75 INI ADALAH TARGET PRICE PADA PATTERN TERSEBUT. BAC JUGA AKAN MELANJUTKAN BULLISHNYA SAMPAI DENGAN 30.45 DAN 34.05 DIKARENAKAN GAP AREA TERSEBUT TETAPI ITU MEMERLUKAN WAKTU UNTUK MENUTUPI GAP TERSEBUT ANTARA TAHUN 2021 ATAUPUN 2022 SEKIAN TERIMAKASIH BY RUPIN GOH DISCLAIMER No information published constitutes or offer, or recommendation, or advice, to buy or sell any investment instrument, to effect any transcation, or to conclude any legal act of any kind whatsover. The information published and opinions expressed are provided by myself (Rupin Goh) for personal use and for educational purposes only and area subject to change without notice. Rupin Goh makes no representations (either expressed or implied) that the information and opinion expressed guarantees accuracy,adequantess or completeness. In particular, nothing contained consitutes financial legal, tax or other advice. nor should any investment or any other decision be made solely based on the content. All opinion is based upon sources that Rupin Goh believes to be reliable but he have no guarantees that this is the case. therefor, whilst every effort is made to ensure that the content is accurate and complete, Rupin makes no such claim. Limitation of liability Rupin disclaims, without limitation, all liability for any loss or damage of any kind including any direct, indirect or consequential damages. Copyright All material produced is copyright to Rupin and may not be copied, emailed faxed or distributed without the express permission of Rupin Notes: all orders are valid until the next report is published, or a trading strategy alert is sent between reports.
NYSE:BACLong
by RupinGoh
BAC Consolidation: 2 scenariosBAC has been consolidating over the last two weeks, giving us an opportunity for a nice play on the stock. In this consolidation, we have two potential scenarios: Bearish: BAC breaks out of the bottom trendline and forms a bear flag pattern to retest September low of ~$23.15 a share. Bullish: BAC breaks out of the top trendline and retests $25 Out of these scenarios, I think that the bearish scenario is more likely. According to CNBC last week: "Bank of America said it generated $20.45 billion in total revenue, missing the $20.8 billion estimate of analysts surveyed by Refinitv. Profit in the quarter slumped 16% to $4.9 billion, or 51 cents a share, edging out the 49 cents estimate. Its net interest income fell by $2.1 billion from a year earlier to $10.2 billion. CEO Brian Moynihan had said the key figure will likely bottom in the third quarter." (CNBC) Revenue and profit were misses, largely due to huge decrease in interest income. The FED has signaled no new interest rate hikes in the next year (at least), keeping rates low. This will continue to hurt BAC revenue over the next several quarters. Uncertainty in the market due to lingering coronavirus fears and stalling stimulus talks make a rebound less likely. Stochastic RSI has crossed over in overbought territory, and MACD appears to be heading for a bearish crossover First price target to watch is ~$23.15, next is $22.50 is support does not hold. This is only an idea and not considered investment advice. Trade according to your own strategy and risk tolerance.
NYSE:BACShort
by samcco09
Not looking so good: Here's why.TA is not showing it's a good stock to invest anyways. I will not suggest to hold big positions if u intend to buy. I did gave a signal for this stock, but it was blocked due to posting personal IG account. XD I don't mind to reiterate again that this stock is not finding a good support, in fact, it has to catch some downside in TA perspective. Another thing is many international banks are very busy. My conspiracy with bank stocks besides low interests, poor actual economy growth, and... also because of this: China posts an impact on some big banks internationally since Yuan digital currency is about to be launched. Generally speaking, the easy money for banks to make money is not as easy as before. These CCP folks that laid their money around the globe has to pull there money out, otherwise, they will be tracked with "outside" money. So to speak, digital currency will be changing the future of many banks.
NYSE:BACShort
by luckysavvytrader