During July, $BAC has completed a weekly pattern (PRZ between 17.8$ and 18.3$ that managed to stop, for a while, the stock's rally.
The pattern's targets are 16.8$ and 16$, but for now we see that the price is finding support inside the structure zone.
The question now is how will the price will react to the 17.5-18$ zone. A close above it, could mean a weekly breakout from the weekly triangle. A close above 18.3$ will also violate the pattern.
A close below 17.5$ can be interpreted as weekly False Break and signal that the price will head lower towards the pattern's targets and possibly the bottom of the Triangle.
As long as the price remains within the PRZ, I'm sticking with the pattern, despite the fact that we saw the price bouncing from 17.5$ (warning signal for bears)
The R/R is great and Bats usually are reliable patterns.
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