NCB trade ideas
BAC on watchHave been watching this for a while. Holding just below the 618 resistance. If it break we could get a decent move up the 786 and 886.
Most of the the banks have already moved so watching to see if this will follow given that yields are rising again. Might be one to buy and hold
vs trade. Doesn't seem to move much intraday but likes to gap when it gets going.
BAC resistance levelBAC appears to be approaching strong resistance, channel resistance, and FIB .618 level after the breakdown in March. May experience turbulence soon.
BAC run-up till ER NYSE:BAC
With vaccine news, banks are expected to have less money put aside to cover default-risk-related assets, that is the recent run up.
Also the fed Rate has "quietly" go up and US 10Y also run up which cause this bank bull run.
so Bull side: more vaccine/news rally this can go to test 30.4 level , which could be a strong resistance.
Bear side: considering 2H,4H MACD strength as declined although price has pushed higher, this indicate upside strength losing.
Overall : current price indicate bull side, unless 27.8 area breaks ( we also have 20MA below) we can hold and using covered calls at 31 level to lower position cost.
Patience is the key.
Plotting a Gap Trade on $BACThis is a trade that I took last week on Bank of America after its big gap. I am still holding the full position.
Sharing as an educational post. Hope it helps folks wanting to learn and advance their trading skills.
*First Time Publishing* Potential Ascending Triangle BAC This is my first time publishing and I'm looking to share my ideas on BAC having an ascending triangle on the hourly chart with a potential breakout point at around $29.10. Please let me know any feedback and criticism you guys might have for me.
Bank of America strong bullrun ahead?NYSE:BAC
Bank of America just before June 2020 brakeout.
Secondary trend turned bullish indicated by EMA 20 / 50 crossover.
Very strong MACD and high RSI value combined with positive money flow (CMF) indicate a strong momentum for further upward movement.
CRV = 2,77 / Stopp Loss below Aug 2020 high / Take Profit at January 2020 low
BAC: weekly view chat bubbles say it all. Currently on lower TF it's looking like trying to find sell setups is a good idea.
The only bank with the most Blockchain Pattens Brian Monahan said himself , they or “we” are heading into a cashless society.
BANK OF AMERICA SELLS OFF TOOCANNOT ACTUALLY SAME MUCH BUT THE USD WILL REALLY BE ON A BEARISH SIDE OF THE MARKET NEXT WEEK ...EVEN THE BANK OF AMERICA HAS IT SAID THAT INVESTORS ARE NOT OPENING ANY MORE NEW LONGS TO BOOST THE BULLISH SIDE OF THE DOLLAR.THIS IS THE TIME WHERE WE ALL NEED TO BE LOOKING AT THE POSSIBILITIES OF THE BANK OF AMERICA GOING SHORT AFTER THE WEEKEND
Bank of America short term viewThis stock looks like will come down to the 23s in the short term. In the long term it will rebound to 28 or 29 if the Senate stays controlled by Republicans.
BAC (triangle) Les MM sont tous en dessous du prix et il y a une formation bull flag en cours. si le prix brise le haut d'hier il devrait y avoir continuité.
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
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