Ape

BAC Shows signs of a pull back

Short
BATS:BAC   Bank of America Corporation
0
As price advanced passed its' previous high of 12.20, it did so on negatively diverging internals. This is not what you want to see when long. Typically, indicators will create new highs with the price action to confirm its' bull run. Right now the indicators are not confirming the price action to the upside. Add in the fact that BAC closed below its linear regression line, and we have a potential short to the lower trendline in between 11-11.50.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.