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.
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?
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
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.
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.