In this video, we'll take a closer look at the technical analysis of Bank of America (NYSE:BAC) ahead of earnings and identify key levels to watch. Starting with the weekly chart, we'll analyze the overall trend and momentum of the stock. Moving to the daily chart, we'll look at recent price action and important levels of support and resistance. Next, we'll examine the 4-hour chart for any short-term trends or patterns. Finally, we'll analyze the 1-hour chart to identify potential entry and exit points for traders. By the end of this video, you'll have a better understanding of the technical outlook for NYSE:BAC and key levels to watch ahead of earnings.
@Entrenched, I’m very new to trading and was anxious to enter BAC this morning. Do you think I should stay away?
Entrenched
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@elisanascar, i would say that being comfortable in a trade always helps because we need that confindence to so we dont panic on every dip, but i would say this. it is likely to hit 31.04 area one more time and there could be one more pull back after that before finally making its run up to the 32.60, in my opinion
elisanascar
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@Entrenched I ended up with 250 shares @ $30.17. Thank you for corresponding with me. I look forward to your Tesla analysis.
Entrenched
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@elisanascar, yea for sure. I did take a look at Tesla yesterday before bed but it looked like it was in a real tight range so I wanted to give it a day to see if things cleared up a bit, but yes I will get to it
elisanascar
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@Entrenched I don’t think the ER is gonna be impressive. But Tesla doesn’t trade normal in my opinion
Entrenched
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@elisanascar, exactly Tesla moves different than most charts and partly why i was hesitant lol
Entrenched
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@elisanascar, this is what i got so far on tsla. but i'll definitely be watching earnings to see what direction it will choose