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BAC: Short if Support Breaks Down Here

Short
BATS:BAC   Bank of America Corporation
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1
This 9$ level presents more shorting opportunity if it starts breaking down. The monthly chart looks scary for Longs. This position looks scary either direction and will need some intra-day confirmation. Nonetheless, it does meet 2:1 RR criteria.

Options Play: Jan Puts, Strike: 10
Option Price at time of chart creation: $0.99

Comments

Will BAc go to 8,50 ?
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Hello! How do you think where BAC going? Down or up? Which numbers? Answer is appreciated. Regards.
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I think BAC is in a spot of indecision right now, meaning I'd be more reactionary than anticipatory. If the channel breaks down, I'd get short. If not, I'd be long.
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token991 TradeVulture.com
Hello ! If I would like to buy BAC at a price of 8,70-8,50 . When do you think it will be possible in the future according to your chart? n December first half ? Namely 1-15 . or second half of december . according to your chart. Answer is appreciated.
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Right now BAC appears to be diagonally channeling between about 9.15 and 10. If I were going to speculate on a time frame (which is much more difficult) I'd go with the second half of December, however, It may not get back to that level for a while. It's difficult to say. The retracements in the channel have been lasting for about 1-2 weeks.
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token991 TradeVulture.com
Thank you very much for your answer. As you said it may not get back to that level ....Very difficult to guess. I agree.
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