alexp
Short

BAC - double top, top of trading range

BATS:BAC   BANK AMER CORP
387 12 1
BAC             has formed double top at a major resistance level of 10.00. Should try and get back to its 9.00-9.60 trading range after false breakout. This is a high probability 1:1 risk/reward trade to EMA 20 which should work out by the end of the week.
Hello! How do you think where BAC going? Down or up? Which numbers? Answer is appreciated. Regards.
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alexp token99
hi, I believe it will continue staying in 9-10 range for a while - will be testing 10 again in the near future
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token99 alexp
Thank you for answer. This fiscal-cliff and Europe issues will not cause any problem? BAC may go to 8,50 first? Then to 10. How you think?
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token99 token99
And another thing is that is there a relationship between S&P and DOW to BAC price? Because last 2 weeks these
to indexes fall vey much . While BAc stayed in 9-9,50 corridor. Isn't that BAc should fall paralely?
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alexp token99
As Vinnie Pooh used to say - "You never know with the bees". I believe that downside correction is almost over and now they will do everything to put a proper xmas rally in a place...
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token99 alexp
Thanks for answer. So if rally when do you think it is good time to buy BAC? next week or start of december or mid-december? pls. comment very appreciated. regards.
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alexp token99
See my weekly idea on BAC. If you're okay to wait for a few weeks - then try to buy it around trend line on the weeklies which will be somewhere within 8-8.50 area... It might overshoot trendline a bit though - but if you're buying for long term investment - you shouldn't worry much about that
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token99 alexp
Thanks for answer. Your charts are very good. I liked them Thank you . You are great. My personal purpose is to buy BAC only and only between the concrete range 8,60-8,00 . This is a must . So I need exact date. regards.
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alexp token99
the let's wait till it gets to that area and then we will take a look and check what is the price action looking right around that time and whether it will be worth buying it around that time. E.g. if a strong bear trend starts for BAC - it will be viable to wait for it to reverse before buying it. Ping me in a few weeks time and I will let you know my thoughts.
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