As we can see, BAC has broken out of the corrective downtrend, with three consecutive green candles. Not quite three white soldiers, since they are more spinning tops, but they are a bullish sign nonetheless. We broke through the $30.00 price point a few times today, but tomorrow we will need to get above it with some conviction in order to let it become support for our impulse up. Fundamental factors should lead to a bullish market sentiment in regards to BAC. Reported earnings were stronger than expected, and analysts predict 40% more expansion this year. Overall market apprehension seems to be keeping price action at bay for the moment, setting up a nice buy opportunity in my opinion. Lets see what tomorrow brings.
Comment:
nice breakout today, we closed above $30.00, we may see some pullback soon
Comment:
today we're seeing the pullback, wave 2 has begun. made some great profits on call options this week. hopefully a few days of retreat will give us the strength to make another big move up.