BAC Double Top

BATS:BAC   Bank of America Corporation
Entry - $9. 40 - $9.50
Target 1 - $8.90 (Recent trough could prove to be support)
Target 2 - $8.25 (Breakout point could prove to be support)

Stop Loss - $9.70

Double bottom formed May - September
Higher volume on first bottom
Lower volume on second bottom

Price action broke out on high volume and stopped right at the measured move for the double bottom forming the first top in our double top pattern.

High volume on first top
Low volume on second top

Also trend line resistance at the same point as the potential double top .

Price action will drop down to Target 1 and possibly make another run to break through the trend line
if not it may drop down to Target 2 which is the previous breakout zone


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.