BAC Completed a Cup and Handle Model - Get Ready for a Bounce
The cup and handle pattern is a bullish continuation pattern.
The BAC weekly chart displays a large, rounded bottom that formed over several years, indicating long-term accumulation.
After breaking above the key resistance around $45.50–$47.00, the price pulled back to retest this zone, which is now acting as strong support.
BAC broke out in a solid way the top created on December 2021 thus indicating for signs of a stronger bullish momentum.
As long as the BAC price stays above this area, the trend remains bullish, with potential upside targets near $54.50, $60, and $65.
Support zone: $45.50 – $47.00
Targets:
$54.50
$60.00
$65.00
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
The cup and handle pattern is a bullish continuation pattern.
The BAC weekly chart displays a large, rounded bottom that formed over several years, indicating long-term accumulation.
After breaking above the key resistance around $45.50–$47.00, the price pulled back to retest this zone, which is now acting as strong support.
BAC broke out in a solid way the top created on December 2021 thus indicating for signs of a stronger bullish momentum.
As long as the BAC price stays above this area, the trend remains bullish, with potential upside targets near $54.50, $60, and $65.
Support zone: $45.50 – $47.00
Targets:
$54.50
$60.00
$65.00
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
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✅MY FREE Signals Channel
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅Suggested News Channel
t.me/ForexNewsNavigator_Official
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅Suggested News Channel
t.me/ForexNewsNavigator_Official
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.