BAC is one bank stock of interest. It had an uptrend which has now done a 50% retracement into the Fib retrace zone marked on this linked chart. It is sideways in the zone. I am thinking about long and short entries at the zone boundaries with buy stops and sell stops to try to catch the move which is more probably long than short continuance. I hope this idea helps anyone who reads it " make bank" Why I say upside is more probable is because that is typical of a retracement. Otherwise, it is a subtle finding on the MACD but the lines have been more above the horizontal zero then below it in the last two trading sessions. The long would be a buystop at 33.6 while the short would be a sellstop at 32.4.
I hope this idea helps anyone who reads it " make bank" Why I say upside is more probable is because that is typical of a retracement. Otherwise, it is a subtle finding on the MACD but the lines have been more above the horizontal zero then below it in the last two trading sessions. The long would be a buystop at 33.6 while the short would be a sellstop at 32.4.