deger
Long

Bank of America is ready for upswing

NYSE:BAC   BANK OF AMERICA CORP
126 1 2
Continuing upward movement, Bank of America came to the significant level of 18. All the cycle from 6 unfolded under the Elliott wave principle. Impulse -wave 1, simple wave 2, protracted wave 3 and wave 4 creates a triangular corrective pattern. Wave five is the final leg in the direction of the dominant trend and it should be powerful. If we take length of wave 1 as a reference point, wave 5 will push the chart above the level of 18. Then the way to 29$ and 35$ opens under Fibonacci coefficients, and then the level of 55$ follows. OBV shows that money volumes are up. Sharp increase of trading volume on the last day of the correction is a clear signal to continue to long.

Related Ideas

I keep seeing this big numbers like 30 and 55. Perhaps I have a misunderstanding of how this works but it seems like at $55 BAC will be worth over 500 billion dollars ($55 x 10.52 billion outstanding shares). That's quite a large number--higher than its market cap has ever been. Please correct me if I'm wrong.
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out