TradingView
lukdesimone
Aug 15, 2020 6:45 PM

Bank of America, possible long position 

Bank of America CorporationNYSE

Description

After spending some time watching the chart there are some things that I would like to highlight:
First of all the last candle stays in a crucial zone which is a resistance line. Besides, this candle is above the moving average (150) which could be a long signal and if we follow the analysis the fibonacci retracement lines (150) show us that the current price is below the 0.5 line.
I think that all of this could result in a long position.
I've also seen the fundamentals showing a "normal" P/E ratio and a PEG below the median of the banking industry (1.80 vs 2.20 approximately). Apart from this the stock has a price to book below one which could mean that the stock is quite undervalued.
So, that's my recommendation, hope you like it! Every comment or suggestion is always welcome.
Comments
HotPotatoTrader
General consensus is buying below $26 is a long buy.
nwngreedyisland
looks like a failed cup and handle
lukdesimone
Olutobi-Ogunsemore
Great stuff 🔥🎯 This setup seems interesting to me aswell . You should check out my page I’ve called some killer setups‼️
More