BAC .... please post any comments about future movements Bank of America trade ready .... but which direction is the next trade?
post your comments
NCB trade ideas
Swing trade for BACtos picked up this ascending wedge pattern. Took a closer looking, it did break trendline
There was a double top price rejection at the 200 sma on this chart. Target price is under $40. Swing trade, bearish.
BAC: M-top pattern?M-top pattern (double top) might signal some downside price potential.
Below 42.50 supports a bearish trend direction.
MACD bearish crossover also supports a change in trend direction.
RSI leaves enough room for further downside price potential.
$BAC Range Manage risk and always be aware that movements in the overall market can effect stocks in all sectors.
Possible Inverse Head and Shoulders setup on $BACoriginal pt was 42 but looks like we could bounce in a falling wedge pattern and breakout of resistance in an inverse head and shoulders pattern, I think if you aren't already in it is worth putting an alert on for the break out as well as the potential bounce here
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Cup and HandleAscending Triangle also noted.
Small gap under price with resistance overhead from the top of the cup and from the top trendline of the ascending triangle. Support and resistance levels were made to be broken.
Getting a good long entry level can be important to your psyche. Price may go a bit below mine sometimes and I wish I had waited a little longer. I try not to be a lost ball in the tall grass, as I realize panic can be my own worst enemy. Having a trading plan helps and a simple plan can be just a level to enter a trade, a level to exit a trade (be it a mental or entered stop loss or price hits the target), and a reason to enter the trade.
No recommendation.
The market is not your friend, but it is not your enemy either. I went with this one a while back, and I realize it could pull back, but for some reason it feels safer than many and is the reason I entered it.
EPS 3.15 PE 12.97 Yield 2.05%
Bank of America short setup Long term hold short.
- Psychological Levels
- Momentum shifts
- SMC distributions
- Liquidity buildups
#Micahelburryshorts
BAC predictionBAC seems to form a cup and handle.
On the chart I mentioned the possible entry and exit zones, where I suggest.
Stop loss I would hold tight $39.75 and the risk/reward seems to be very good for now.
@LN Hey @Ln use this and learn how sir is being used in the past graphs, you will see when to buy and sell, and it will very useful
BAC: Trendline brokeA call was given for this trade on 26 July, bought at 37.96. If you hv taken this trade, the profit should now be 120% of the risk risked. You may move your stop loss along with the price to secure your profit.
BAC Bullish Trend(Update)BAC is slowly forming signals that may suggest an up-move to be had. Currently I'm making this TA during market hours so I suggest you wait until market close to see if the TA still holds up. I believe we may see a move to the 44's since we are seeing a ema cross form on the Willy Oscillator. Not only is the willy oscillator forming a trend, but the squeeze indicator shows reducing selling momentum. If you are a more of a risk aversive trader then it may be wise to wait to see a confirmed squeeze or to wait and see if BAC comes back to support.
Bullish Signals
-Ema cross(willy oscillator)
-Squeeze indicator(reducing selling)
Price Target
-43.43
How I'm Watching BACBAC is seen to have rejected the 20ma, meaning it will most likely bounce back towards the lower Bollinger Band. In order to place a buy order on BAC, I want it to hold its 0.382 Retracement on the Fibonacci Resistance Fan, which lies around 37. A break through this support will provide a great buy area around the 34 price level.
Good luck and trade safe
Key Points
-37(Fibonacci Support)
BAC BIAS: UPOverall the price still in stalling position and oversold, it can potentially break up the resistance ahead and turn the current trend. Make sure to apply SL and TP.
