NYSE:BAC   Bank of America
6
Hey guys , this is what i think about bank America. First, there is no suprise that this stock has been going up for a while, the long term is bullish, the medium trend is bullish and the short therm is also bullish and that's why i'm looking to buy the stock tomorow because im going with the trend and not against it. So as you can there is a nice stair steps pattern and this is what got my atention. We see a nice bullish move two weeks ago and with a lot of volume so that means that there is great buying pressure and that the move to the upside is strong , then the stock start to consolidate a little bit with low volume ( people are taking profits, not a lot of sellers and buyers). After that consolidation , the stock gap a lot today and break above it , finished the day strong and has a lot of volume. The industry and the whole market just broke new highs everywhere and i think we are going to see a continuation of this trend. BAC broke a new high, the buying pressure is there, the volume is high and the fact that the stock broke the new all time high with a gap makes it more strong so my thoughts are that the stock will go to around 27 within a month. If the stock retrace tomorow then i will be looking to buy the dip , if not then i will buy it tomorow around 25.60-65. Those kind are always the same:(Nice strong bullish move with great volume) ,( a retracement or a little consolidation with low volume) and then ( a breakout with good volume and a strong candle).


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