BAC trade ideas
BAC coming close to where we can open a long position?Bank of America with its decent yield of about nearly 4% and a decent balance sheet maybe a good bye during this down turn. The trend drawn above show that approx $18.10 might be a key point for the stock. I would wait for it to reach there and show us a bounce to confirm my idea before opening a long position. As always I am a long term investor looking to buy and hold equities. Please like and comment.
Thanks everyone!
"Be Fearful When Others Are Greedy and Greedy When Others Are Fearful" - Warren Buffet
BAC Amagó con cruzar la WMA21 para arriba pero finalmente termino abajo, aun no da señal de compra aunque los indicadores si los estén dando, nos mantenemos al margen y vemos mañana que pasa
BAC head and shouldersHow many trillions will they print to save it? they print the money but it doesn't go towards paying workers or saving stock price, companies getting billions from govt yet paid none in taxes, unemployment at 32%, where is the stimulus going?
BAC ResistanceThere appears to be key support at $18 not only now but throughout the history of the stock. Expect big moves for the rest of the week depending on whether or not this willbreak through the $18 support
$BAC Wedge + Trending + DivergenceMonthly Chart
Weekly Chart
1. Wedge
We can see in the 1-hour chart of Bank of America that is forming a wedge. We can see the wedge with the purple lines in the price chart.
2. Regular Divergence
In addition we can also see a regular divergence from 6th March to 23 March while the price was falling the indicator in the Rsi was rising.
3. Trend Line
We can see better in the monthly chart that there is a trend line that is forming from about 2008. The next days that will be tested.And the is the second more general trend line forming decades before.
4. Support Line
Also if we look in the monthly chart we will see that there is a main/strong support line that in the next days will be tested again. The 1st support line lies around at 15.24$ and the second at 4.92$
From the first two factors we can see that might be a breakout and form a new uptrend. At the 1 hour chart we will see that the wedge the 1st trend line and the 1st suport line get together in one spot.
So the first scenario will be to test that support at 15$ and form a new uptrend.
The second scenario is to break that support and fall until it lands at the more strong 2nd support and resistance at around 4,5$ and then form a new uptrend from there .
Scenarios
BAC - We are repeating the 2008 dropHello everyone, as we can see we are heading for the same % drop as in 2007, so expect till March - May 2021 the price to be around 5$ - 2.5$ . We do have support at 10$, but giving the fact how the 2007 crysis turned out for BAC with more than 90% drop, right now we are seeing record big drops, I see -90% from all time high price again. Right now we will see temporary retracement to the upside, but it will be fore 1-2 months, then we will drop again. Good luck to everyone, see you next year :D
BAC monthly buyBAC has formed a long legged H&S if that's a thing? along the uptrend that has formed. Following the monthly momentum of the MA we can see that it is moving upwards, and from past bounces we can see that the purple MA is the optimal buy point for BAC. Lets get that money!
baclml line of chart is 18.37 but price may test 17.81.if price break 17.81 then accordind red arrow will go to 14.15
Analyzing BAC price movements I notice a RSI divergence formingHi Everyone,
First time publishing my ideas on tradingveiw. After analyzing BAC price movements, I notice a RSI divergence forming on BAC. The divergence can be clearly seen forming. Let me know what you guys think .
P.S.
Sorry for the audio.
BANK OF AMERICA CORPORATION (BAC) WeeklyDates in the future with the greatest probability for a price high or price low
Bank Of America (BAC) Will Drop Hard (90%+ Crash?!)The chart for Bank Of America (BAC) is looking bad long term, there are many signals pointing to a very strong drop.
The last time this company had a crash, it shredded over 95% of its value... The same might happen again.
Let's take a look at some of the signals:
Let's start by looking at Divergence , you can spot this marked with a light blue line on both the MACD and RSI. These divergences work strongly on conventional assets, they always confirm. We have bearish divergence on both indicators.
I marked a rising wedge in purple which is also bearish. You can expect the asset value to move a bit longer within the wedge before breaking down; if it does. Probabilities are really high...
EMAs are going to be challenged now, this is our main support (22.33).
The RSI is super bearish.
Volume has dropped massive while price moving up.
If you were to use this information to trade, a break and close above 28.45 would be a great stop loss. As for the way down, 13.62 can be your main target and more after/if this level breaks.
...
This one is about to crash really hard... Just like it is happening with Apple, Google, SPX, DJI and the rest.
Thanks a lot for reading.
Namaste.
Bank Of America Struggles. Await Long opportunity $bac
Market extremely volatile, so we await this opportunity to trade BAC.
Elliott Wave View: BAC Looking for More DownsideBank of America (Ticker: BAC) decline from December 27, 2019 high is unfolding as a 5 waves impulsive Elliott Wave structure. Down from December 27 high, wave ((1)) ended at $32.47 and wave ((2)) ended at $35.45. The stock has resumed lower in wave ((3)) and internal of wave ((3)) subdivides in an impulse in lesser degree. Down from $35.45, wave (1) ended at $27.44 and bounce in wave (2) ended at $29.8.
In the chart below, we can see that down from $29.8, wave 1 ended at $27.50 and bounce in wave 2 ended at $28.42 as a Flat. Stock then resumed lower in wave 3 towards $21.75 and bounce in wave 4 ended at $23.49. Finally wave 5 ended at $21.51 which also completed wave (3). Wave (4) rally is now in progress to correct cycle from March 3 high. Potential target for wave (4) in 3 swing comes at $23.7 -$25. Sellers can appear from this area for more downside or 3 waves pullback at least. We don’t like buying the stock. Expect rally in Bank of America to fail in the sequence of 3, 7, or 11 swing as far as pivot at 29.80 high stays intact
BAC may not go up much furthertwo years' consolidation and broke up was invalidated by the selloff in two weeks.
give the current macro environment, BAC may not be ready for another breakout any time soon.
BOA - Obvious This Was Likely to Fall in January, 2020.9-Day (Far Left); 2-Week (Left of Center); 1-Month (Right of Center); 2-Month (Far Right):
9-Day: It was looking rather bleak for BOA in this 9-Day TF that began January 2, 2020 when the Green Line turned down and the Red RSI made contact with the Green Line WHILE the Green Line was going down; indicating downward pressure. Not only that; the White Energy was already heading down, the Green Line and Red RSI made their contact ABOVE the 80% level (showing it was likely exhausted). ALSO: The Green Line and White Energy in the Monthly TF on January, 2020 had both peaked above 80 percent and turned down. The same thing occurred with the 2-Month TF that began January, 2020.
2-Week: Later on January 6, 2020 we had a new 2-Week Candle with the Green Line turning down and the Red RSI making contact with the Green Line WHILE the Green Line was going down; indicating downward pressure. We also saw a repetition of the 9-Day TF in this 2-Week TF when the White Energy was already heading down, the Green Line and Red RSI made their contact ABOVE the 80% level (showing it was likely exhausted).
This is not looking good. We should expect the FED to likely lower rates at least another 0.5% and begin quantitative easing. This will allow us to have a bounce but I would be surprised if this bounces back up to $35 ever again due to what's going on with the Corona Virus. Supply Chains have been severely hit. Which affects corporations ability to make payments on loans provided by BOA. All other large banks are running into similar issues. This may get very nasty.
$BAC Approaching Major Support$BAC has major support at the $26.50 level. We believe $BAC is a smart long-term play that is worth accumulating on the coronavirus sell-off.
As always, trade with caution and use protective stops.
Good luck to all!
