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BAC trade ideas

The END is NEARNow I understand there are a lot of shenanigan's going on in the banking sector, but I'm not going to pretend to know how exactly this will affect the price of bank stocks. Everyone and their mom is now bearish on bank stocks from the constant news of bank failures and if I've learned anything from the markets is that the market always moves against the crowd. So I make my decisions strictly from the price action and volume obtained from charts. BAC has been trending on this blue support line since 2016. You can even take it back to 2011. Each time it has bounced off of this blue trend line. However this time, it will be different. This time we had an inverse head and shoulder from which price broke down with SIGNIFICANT volume Although the price has bounced from the blue trend line for right now, it has already rejected the previous support of the inverse head and shoulders at $30. Validating the breakdown with more downside to come. The fact that a bearish pattern broke down with such high volume right above the extremely strong blue trend line tells me price action is gathering strength to be able to break below this blue trend line after years of support. When this break below occurs, it will be nasty. A rapid fall in price, not slow and drawn out. An optimistic bounce area will be between 24 to 23. However, a break of a trend line this strong can only be accomplished with significant strength, in this case bearish strength. I see BAC falling to the 19.5 to 17.5 dollar range, an area that previously was a resistance but is now a support. When will this break down happen? I don't know, but price action is showing it is bound to happen in the upcoming future. Possibly after earnings are all done with.
NYSE:BACShort
by MoRafi
BANK OF AMERICA HEAD N SHOULDER TOP The chart posted is that of BAC we had what seems to be a rather classic head n shoulder top so if the over all market is going to hell as I stated in the forecast dec 2021 why does everyone WANT and Need to trade the long side ??? I have lived thru NINE BEAR MARKETS and have traded since 1972 when I was in high school. I have managed funds since 1990 .So if you all seem the need to be compulsive to trade . it sound like a few of you Think you are going to MISS OUT . Relax !! To make $$$ you may miss alot of trades but there is always another day !! I told you the FED is going to reduce the balance sheet if they are to keep the Credibility inflation must break 3.2/3.6 core by year end. Best of trades WAVETIMER
NYSE:BAC
by wavetimer
BAC Bank of America SHORTBAC is shown here on the 15 minute chart. Fundamentally, it is under pressure like many other banks including First Republic. On the chart, price is in a downtrend having bounced from VWAP (redline) in confluence with the blue line of the top of the high volume area of the volume profile. Price is underneath the blackline which is the 210 HMA. Only shorts should be taken underneath that line. The target is the thin red line below which is the bottom of the low volume area. Accordingly, the thin red line is the target while the thin blue line or the VWAP (thick red) are the stop loss levels. This is a very safe trade with an acceptable R:R. My put option @ $ 28.50 for expiration 5/12 gained 68% overnight. I will ride this down and then look for the reversal trade.
NYSE:BACShort
by AwesomeAvani
Multiple indicators continue to support the BTC market.BINANCE:BTCUSD Fundamental Analysis: The third major financial event of May is coming up, the interest rate meeting and the non-farm payrolls data. All financial market investors are watching for the speech at the May 2 meeting. If Powell changes his position from the last meeting that "a pause in rate hikes will not be included in this year's benchmark issue" and instead adopts a more dovish tone, then the dollar index will see a sharp drop. Market data suggests that the probability of the Fed ending the year with rates between 4.25-4.50% has reached 83%, while the probability of ending the year with rates between 4.50-4.75% has dropped to 17%. This data also suggests that the market does not expect the Fed to continue to raise rates significantly at its next meeting, which will provide stronger support for the cryptocurrency market. The decline in the US dollar index will attract a large number of investors to the US dollar-denominated BTC market. Technical analysis: From a technical perspective, BTC is currently on the 4H chart of the Elliott Wave push, which has set the stage for the start of the fourth wave. If this pattern is to build a fifth wave, then the key support level of the current structure will move up to the S3 price range. In terms of the medium-term layout, the end of the above-mentioned fifth wave would be at T1 near 31,300, T2 near 34,000, and T3 near 38,300. If short-term prices fall to S2 and oscillate around the midline, a relatively common triangle pattern could easily form. In the short term, the market is still waiting for the May 2 meeting to land and form a triangle pattern for an upward breakout. One scenario to keep in mind is that if Powell continues his strongly hawkish tone at the interest rate meeting, the dollar will continue to be supported in the short term. If BTC is influenced by fundamental analysis and falls below the support level of S3, the pattern will be broken and we will consider the whole trend as a head and shoulders bottom pattern. Therefore, a short-term correction may occur during the meeting, but considering that the Fed's continued rate hikes may trigger market fears of recession, speculative products such as cryptocurrencies can still continue to build long positions after the fundamental analysis stabilizes.
NYSE:BACLong
by TradingJ888
BAC - long term short target in 2+ zoneBAC has similar to MS setup though looks to have started wave 3 of circle wave 1 already. Expect to see circle wave 1 landing somewhere in 15+ zone before a pullback in circle wave 2 sometime in 2026. Bear in mind this is the view on the financial sector, which imo is leading the market and can be used as a benchmark for the US economy. Major stocks (big tech, consumer staples, etc) still have a great chance to post new highs either in 2024 (AAPL) or 2026 (GOOGL).
NYSE:BACShort
by Vyaz
$BAC Technical Analysis: Key Levels to Watch Ahead of EarningsIn this video, we'll take a closer look at the technical analysis of Bank of America ( NYSE:BAC ) ahead of earnings and identify key levels to watch. Starting with the weekly chart, we'll analyze the overall trend and momentum of the stock. Moving to the daily chart, we'll look at recent price action and important levels of support and resistance. Next, we'll examine the 4-hour chart for any short-term trends or patterns. Finally, we'll analyze the 1-hour chart to identify potential entry and exit points for traders. By the end of this video, you'll have a better understanding of the technical outlook for NYSE:BAC and key levels to watch ahead of earnings.
NYSE:BAC
by Entrenched
9
BAC Support at LowsLong idea. BAC is a stock that has been negatively affected by the recent issues with regional bank stocks. While the bank seems fundamentally sound, I think there's an opportunity to go long for mean reversion. Has been in a daily downtrend since the beginning of March and has hugged the 2sd 20D. However, price has stalled 26-28 and is seeing some high volume, implying big buying at these levels. A distribution has been built here at the lows, and R:R for long punt down here feels like risk is to the upside. Buy targets are 27-28 / 26. Profit targets are 29 / 30 / 31 / 33.
NYSE:BACLong
by BreezeTrades808
Banking turmoil took its toll on Bank of America’s share Bank of America Corporation (symbol ‘BAC’) share price was trading in a slightly upward trend because the bank failures hit mainstream media and drove the share price of BAC down. The company is expected to report its earnings for the fiscal quarter ending March 2023 on Tuesday 18th of April before market open. The consensus EPS for the quarter is $0,80 compared to the result for the same quarter last year of $0,80. ‘Bank of America could not be unaffected by the banking turmoil in early March that resulted in pushing its share price down by more than 25%. ’ said Antreas Themistokleous at Exness. ‘ As of 31/12/2022 the current ratio of the bank was at 78% meaning that they do not have the ability to repay their short term liabilities with the current assets currently in possession and this might be seen as a red flag by potential investors and traders.’ From the technical analysis perspective the price moves in a sideways momentum in the last couple of weeks after the consecutive bank failures with investor confidence still not regained even after measures from central banks. Currently the price is facing resistance on the 20 day moving average while the Stochastic oscillator is in the overbought level. The Bollinger bands are contracting showing dried up volatility in the market while the HKEX:29 price area is a strong resistance since it is made up of the 23.6% of the daily Fibonacci retracement level and also the area where the price failed to break above it since mid March.
NYSE:BAC
by Exness_Official