Bank Of America Priced In Silver#Banks can run, but they can't hide!
Still weak when priced in #Silver.
NCB trade ideas
Potential Breakouts in the BanksLenders like Bank of America mostly remain negative on the year, but some members of the industry could be breaking out.
The first chart (above) highlights a falling trendline along the peaks of February and July. BAC paused at this resistance two weeks ago but rallied above it yesterday. It also remained above the mid-September high. Did old resistance become new support?
NYSE:PNC PNC Financial Services, NYSE:KEY KeyCorp and NYSE:USB U.S. Bancorp had similar patterns:
Next is the ascending triangle in NYSE:WFC Wells Fargo, which broke out on Wednesday and jumped to a 15-week high:
Patterns like this, in so many related companies, may suggest investors are rotating back into the broader industry group.
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BAC to LONG?BAC long term profit ? A popular stock + Above the average line 150 + Breaking a downtrend line + Year-end rally in the banking sector?
Only an idea and not a recommendation for trading!
BANK OF AMERICA BUY AT 30 SELL BY 34 Earnings coming on January
Christmas rally
buy the Hype
CyberMOnday
BlackFriday
Sell before Earnings !!
CAFE CITY STUDIO 2024
BUY 30
SELL 32 - 33- 34 MAX
SL 24
High Risk !! NYSE:BAC
BAC, 9d/-10.51%falling cycle -10.51% in 9 days.
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This data is analyzed by robots. Analyze historical trends based on The Adam Theory of Markets (20 moving averages/60 moving averages/120 moving averages/240 moving averages) and estimate the trend in the next 10 days. The white line is the robot's expected price, and the upper and lower horizontal line stop loss and stop profit prices have no financial basis. The results are for reference only.
Triple bottom cleared. Long EntryTriple bottom fulfilled, should see next level up.
Please use a stoploss, thanks!
Great opportunity for long term investors in BANK of AMERICAThe second largest American bank has been spotted at a 61.8% retracement of its impulse wave up in march 2020. Moreover the stock has completed an entire zig zag(according to Elliot wave theory or simply ABC correction) from 2021 till date.
The wave 3 target for the stock in the 3-5 year term turns out to be around $68.
BAC vs SILVERThe implications of a confirmed breakdown for #BankOfAmerica versus #Silver is a paradigm shift type event.
Capital flows will then favor precious metals to a point that #gold and #silver will severely out perform.
BAC - Touching Long Term SupportTen year support line. Historically this appears to be a good time to initiate a long term investment.
Increased Interest Rates Harm Banks. Trading Idea for 18/10/2023Bank of America has incurred a loss of 131.6 billion USD from securities transactions. According to the bank's CFO, Alastair Borthwick, this loss can be attributed to the declining value of US government bonds in the bank's portfolio, as a result of rising interest rates. The loss is anticipated to recover once the government fulfils its obligations, leading to an expected increase in Bank of America's accounting earnings.
Today, we propose to focus on the Bank of America (NYSE: BAC) stock chart.
On the D1 timeframe, support has formed at 25.84, with resistance at 27.67. There is a significant probability of a breakthrough at the resistance level.
On the H1 timeframe, the short-term target for the price increase is around 30.65; while in the medium term, it could reach 37.09.
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Bank of America: Ascending Broadening Wedge Below S/R ZoneBank of America has confirmed the MA's and S/R zone as Resistance within an Ascending Broadening Wedge just as PACW did not so long ago, and now more interest is building at lower levels, which could suggest that BAC will be breaking down from this wedge very soon, and the measured move would take it all the way down to about $2, though we could see it try to hold $17 before that.
This is a little bit of an update to the BAC and PACW fractal listed in the related ideas tab, this time more focused on BAC as a whole.
💵 E a r n i n g s J o u r n a l 📶 S T A T I S T I C A L A N A L Y S I S
Current 50-Day Market Trend: short/sellers/negative.
Next Swing: neutral swing of volatility.
Next Wave: buy wave to the deviation.
Next 50-Day Market Trend: long/buyers/positive.
Trade Type: Touch & Go don't wait for a close.
💵 E A R N I N G S A T A G L A N C E
Release Date: 10/17 AMC
Quarter: FQ3'23
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Revenue Anticipations: positive surprise for Revenues.
Revenue Surprise-Confidence: on a scale of 0-9, #4
Revenue 2-Year Trend: the company trend in Revenues is positive.
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EPS Anticipations: positive surprise for EPS.
EPS Surprise-Confidence: on a scale of 0-9, #8
EPS 2-Year Trend: the company trend in EPS is neutral.
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📝 S Y N O P S I S
"I expect the market will buy the +surprise if the earnings report hits the Wall Street consensus, or sell the -surprise if the earnings report misses the Wall Street consensus."
🔎 R E S E A R C H D E P T H
Technical Analysis: daily chart.
Fundamental Analysis: EPS & Revenue data.
Press/News: none.
Social Media: none.
BAC earnings retesting 2020 pricesBAC is possible to retest the pricing of 2020.
It is very important to add a stop loss before earnings.
BAC TrendBAC is about to show a 10% growth over 2 years if earnings are met in Oct. vs YOP2Y.
Indicators:
* Money flow indicator
* Elliot Wave Oscillator
* Bollinger Bands
* MACD (10/40)
* 4-day chart (earnings/dividends) Why can't we see these on 5d+ charts anyone?
* Not seeing this as anything turning soon, but nearing a new low = 2 yr ago.
Normally like to also view same chart in 1d for candlestick plays, and 1w/2w/1m chart for longer term positions.
Let me know if you agree. @pokethebear
rip before more dip ⚡BAC in local downtrend.. so push to 29.50-30 then more downside is likely 🐼
break of 31.45 and we can see 36-40 🎯
boost and follow for more! thanks 💛
BANK OF AMERICA One last low and off to a great 2024?The Bank of America Corporation (BAC) got rejected again on its 1W MA50 (blue trend-line), a level that has been acting as a Resistance since the March 2022 break-down. This has created a Lower Highs trend-line that is the key pivot level now. But before that, let's see how it's been trading on a +10 year basis.
As you see on this chart, ever since the November 2011 Low, the stock has been trading within a Fibonacci Channel, with the extensions serving as very accurate Resistance and Support levels. We have seen 1W MA50 rejections after strong corrections in April 2016 and June 2020. Each of those times, the price hit the Buy Zone (green) before rebounding to a Higher High, while the RSI on the 1M time-frame hit the 38.80 Support. The 1M MA200 (red trend-line), which has been the multi-decade Support since the late 1980s and only broke during the 2009 Housing Crisis, is exactly at the bottom (0.0) of the Fibonacci Channel and will serve as the last Support standing between a recovery and possible oblivion.
As a result, BAC is within the Buy Zone that makes it a 4 year buy opportunity, with the most optimal level being just lower, ideally when the 1M RSI hits the 38.80 Support and rebounds. However it will only get confirmed when it closes a 1W candle above the Lower Highs trend-line. As far as a long-term target is concerned, the first Higher High on the Fibonacci scale was made on Fib 2.0 (March 2014), the second on Fib 4.0 (March 2018) and the third on Fib 6.0 (January 2022). Investors could hold, based on this sequence, until the 8.0 Fibonacci extension but on a lesser long-term horizon, we aim at $44.00.
It is interesting to point out that while each Cycle within this Channel has approximately been 4 years and each of the rallies around 2 years, like the one we're expecting now. The Sine Waves are the perfect tool to display that.
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👇 👇 👇 👇 👇 👇
BAC FORECAST Q4 23 - 2028High expectations of 22.98 as the point of reversal
but if that fails i know there will be confluence after the rejection there
and further entry points have been shared for your benefit
more than 10 likes and ill share pyramid positions points to
turn your return to 500% at the least
ANALYSED BY THE BEST
BAC, 9d/9.27%rising cycle 9.27% in 9 days
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This data is analyzed by robots. Analyze historical trends based on The Adam Theory of Markets (20 moving averages/60 moving averages/120 moving averages/240 moving averages) and estimate the trend in the next 10 days. The white line is the robot's expected price, and the upper and lower horizontal line stop loss and stop profit prices have no financial basis. The results are for reference only.
Banks are telling you a story...Banks did not fare well in the 1970s or 2000s.
Guess what asset class does well when #banks stagnate in secular bear markets?
#gold #silver #crudeoil #uranium
BACBAC price action looks pretty weak. We saw a false breakout at the 1.618 Fibb extension level from the 2020 decline. As it stands it is below its pre COVID highs and is running into some serious resistance at that level. Price action looks like it wants to head lower from here.
The Banking Crisis and the Bank of America CorporationIntroduction
The Bank of America Corporation is one of the most famous of Warren Buffets holdings. It is right behind Berkshire’s Apple holdings in size and it has only grown during the recent banking turmoil. This is while he is “dumping” other banks because of red flags in their financials. That is beginning to look like a bad decision based on the technical of BAC.
Source:
markets.businessinsider.com
The United States and the world appears to be facing a very serious financial crisis and we are in the stages where equities are still slow moving. The real impulse will begin when a lower timeframe rally is shorted and the news gets apocalyptic. BAC is ultimately on the chopping block.
Analysis
This is a pared down version of my momentum charts where I try to get the most out of a trend by riding the impulse. As such I don’t have a trade on because price has not slipped the 200 yet. If you want a full breakdown it is in the linked idea on Matic and Solana. Now, due to how fast bank failures can happen I might miss this trade being to patient.
The MACD and Signal are below zero on the mothy. That is bad in itself. Price has slipped the 50 month, that is also bad in itself. Both of these things have occurred as BAC is dropped out of a falling wedge. Also very bad. BAC has also set a lower high from the high before the 2008 financial crisis. That is catastrophically bad because it sets BAC either a W bottom or an ABC correction. The W is shown on the main chart and the ABC correction is shown below.
The wider view
A banking crisis is the apparent reason bitcoin was created in the first place. It also lead to a pump in silver and gold once there was a “paper” decline in price. I remember reading the news stories from the 08 crash were people were selling their precious metals for wide margins on eBay and other platforms while the exchanges were selling silver derivatives for cheaper and cheaper.. As such, another banking system crisis should see the anti-fiats begin to pump once the thrash has happened. I would expect a massive risk off situation but somehow bitcoin and other cryptos look bullish. If is a very schizophrenic time to being doing TA. It is also a crazy time to trade. I don’t know if I will be engaging in capital destruction because of bad trade or just because my exchange collapses.
Most likely I will buy the dip in paper silver and ride the gains up. Dark times with a silver lining.
$BAC Bank of America is at an interesting levelNYSE:BAC Bank of America is at an interesting level
Bank of America is at an interesting Level. Truly will be interesting to see if this holds. Bonds were ripping today and I think we see some “stuff” soon….
It is spooky season, after all...
LOWEST CLOSE SINCE 10 NOV 2020 🤯NYSE:BAC
Lowest daily in over 3 years and a massive open gap below. Huge weekly uptrend breakdown.
Expecting another -10% downside from current levels to fill the gap. There are very high chances that bank of america revisits COVID lows.
