BAC, Massive Descending-Triangle, Huge BREAKOUT-Expansion Setup!

Hello There!

Welcome to my new analysis of BAC. In recent times I have spotted important value stocks within the market that have the potential to emerge with a major transformational reversal and indicate main expansional determinations once the appropriate confirmations have emerged. In this case, I have analyzed BAC with the current ongoing underlying dynamics and with BAC it has to be mentioned BAC is a stock that can unfold its full potential with the current Consumer Demand to appropriately increase further. More and more supply-chain disruptions are repaired again and are recovering now, if this dynamic holds on it sets up a crucial turning in the overall market sentiment. Also, the fact that CPI has declined now for a consecutive period of time builds an important market from where stocks as I have spotted in my watchlist confirm the necessary opportunities.

When looking at my chart now, BAC is forming an important structure, firstly as it is still trading within this gigantic ascending-trend channel in which it has the main supports within the lower boundary and already bounced several times within there. Secondly, BAC has the main support levels between the 26.3 and 27.5 area as it is marked in my chart. Thirdly, BAC is already bouncing within the areas and is forming an important support base within this zone. All these factors are building a determined support base from where BAC has considerable potential to emerge with a major reversal and increase the bullish edge.

The most important formation in this whole structure is the momentous descending triangle formation. Such a formation is leading to a meaningful substantial expansion reversal in almost all of the cases. Once the whole descending triangle formation has been completed with the final setup as it is marked in my chart this is going to activate the further bullish price-action accelerations into the upper directions and emerge with the major wave-C within the whole wave-count that BAC already established. The completion of the formation also means BAC is going to activate the target zones within the 62.50 and 66.50 areas.

Now, taking all these factors into consideration, currently, there is a massive digitization boom with digitization developments increasing within recent times and the growth rates in this sector are accelerating. When BAC moves further with the potential to transform their holdings into the newly developed ecosystem this is going to have a tremendous effect on the actual bullish sentiment prevailing here, especially in combination with the fact that the Consumer Expenditures in this sector are increasing. With such a backing and increase of these factors, this is actually indicating that the price-action accelerates in pace. Once the formation has been completed the next phase targets mentioned will be active.

Thank you everybody for watching my idea about BAC. Support from your side is greatly appreciated.
"With a prime perspective on stocks history, we can have a better understanding of the past and present, and thus a clear vision of the stocks future."

VP

Comment:

UPDATE: BAC is going to accelerate the bullish breakout with an increase of market sentiment at a greatly determined pace.

Comment:

UPDATE: BAC is increasing the bullish volume, especially on the local timeframe perspectives.

BAC is setting up the main upper boundary wedge breakout development as mentioned.