BAC | Going into the market for 8.2.17 price has already traded to Gap up above a major resistance line and currently is at $24.49 at the close on 8.1.17, indicating a rally. Price has broken the confluence between the Fibonacci Retracement and Fibonacci Extension tool, indicating a further rally. It has also broken the 61.8% line on the Fibonacci Retracement which is indicating that price is going to continue to trade higher. I have a Target set at about $24.90 at the top of the Fibonacci Retracement (100% Line) use daily volatility to set your stop or if price starts to trade too far below the trendline, which has been drawn directing the bullish move.
Comment:
Trade Idea VOIDED on 8.8.17