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fakel3053
May 16, 2020 2:03 AM

BACK FROM THE RISE!!! Long

Bank of America CorporationNYSE

Description

Hello everyone after a big correction of the BANK OF AMERICA started in January 2020 we can see that it has reached several important supports the first is the basic trend starting from 1983 we can see that it has just bounced on it in March 2020 which is not to be neglected then we can see that it corresponds with the support of the upward trend line starting from the last lowest (February 2009 and finally the Fibonaacci line of 50% which is a good sign of increase when the market bounced off this one.The geometry of this graph shows us an ascending triangle so i thin that the action of the BANK OF AMERICA should resume its rise over th next few months. In the event that the market breaks these supports the fall could be similar to that of 2009. Don't hesitate to give me your opinions and ideas. thank you all
Comments
fakel3053
I agree with you EMACCap, thank you for your comment.👍
EMACCap
I see the same thing on BAC bouncing of a longterm support region. The fundamentals will need to align to continue the long direction.
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