Pay close attention to XLF today (FOMC) - Although it is currently testing support there's an option for a false break signal here.
If XLF won't close in green today after Powell's message, this can be a trigger for another short term wave (and potentially even a strong one) in U.S stock markets.
Clara la situación del banco estadounidense, con el arranque de hoy está superando la línea tendencial bajista que marcó la marcha del proceso correctivo de los últimos tiempos..
Ahora, en la medida que no vuelva debajo de 29.50 se puede comprar planteándose como objetivos de mínimas los 31.50 y 33.. arriba de esos valores podemos pensar en los 40 dólares de...
The chart for Bank Of America (BAC) is looking bad long term, there are many signals pointing to a very strong drop.
The last time this company had a crash, it shredded over 95% of its value... The same might happen again.
Let's take a look at some of the signals:
Let's start by looking at Divergence, you can spot this marked with a light blue line on both...
A new head and shoulders pattern seems to be in formation as we have started creating our right shoulder.
The bullish leg we recently had, has come to an end as price reaches resistance (which is proving to hold strong).
From here Im looking at a take profit region around the neckline of our formation and if it is broken successfully then the extended tp has also...
Looking at BAC Morgans chart.
The SQZ indicator continues to turn hard green. Indicating further down side.
The stock has been ascending on descending volume. Bearish sentiment.
The MacD is about to have a bearish crossover.
The chart follows the bearish sentiment that is seen across the market.
BAC is approaching our first support at 17.97 (horizontal pullback support, 50% fibonacci retracement, 100% fibonacci extension) where a strong bounce might occur above this level pushing price up to our major resistance at 25.46 (horizontal overlap resistance 50% fibonacci retracement, 61.8% fibonacci extension.
Stochastic (89,5,3) is also approaching support...
BAC could pullback to its resistance at 26.24 (61.8% Fibonacci extension, 38.2% & 23.6%, horizontal pullback resistance) where it could reverse down to its support at 23.04 (100% Fibonacci extension, horizontal swing low support).
Ichimoku cloud is also showing signs of bearish pressure that contributes to our bearish bias.
BAC is testing its support at 25.43 (61.8% Fibonacci extension, 76.4% & 38.2% Fibonacci retracement, horizontal overlap support) where it could potentially rise to its resistance at 28.92 (horizontal swing high resistance).
Stochastic (89, 5, 3) is approaching its support at 2.3% where a corresponding bounce could occur.
Look at the weekly chart. Obvious short is obvious. We are entering a bear trend now.
What we have now is a bear flag noise heading right into 20s and then 16s.
All bull trends are broken on daily.
Last one will provide some cushion, but with empty price nodes on volume, price decline will be rapid.
Whatever is coming is going to hit banking and dollar...
BAC is approaching support at 25.81 (61.8%& 100% Fiboncci extension, 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially rise to its resistance at 28.77 (50% Fibonacci retracement, horizontal swing high resistance).
Stochastic (89, 5, 3) is approaching support at 3.4% where a corresponding bounce could occur.