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Will we kick off monday ready for the Impulse up. or will we have some more up and down to make a push lower to break the low, before turning to the upside?
BAC is in the middle of a corrective phase. It's now reaching the lower channel, where i'm expecting a bounce to the upside. Risk/Reward ratio 3,83.
Some investors are looking for bonds instead of the banking loans (just for a while). Bank Of America is one of them, also they're going to report on October 15th, so the market is considering a better price for buying. Keep in mind that Wall Street is looking for a target of around $34. In my case, I'd like to see a real buying opportunity below $26.
Learn how ...
Dji starts at 9:15.
Trading view forces the last viewed chart to take precedent for the category.
Wave structure is ready. Possible decline is coming soon. If price breaks the supports line be ready to get SHORT on 27.63 line.
The main target for me is 4th wave zone.
According to big picture this move down can be only start of future huge correction for company.
BAC short-term Elliott wave view suggests that the rally to $31.49 low ended red wave X bounce. Down from there, the decline to $30.08 low ended red wave Y & also completed blue wave (2) pullback. The internals of red wave Y unfolded as double three structure where black wave ((w)) ended at $30.62 low as zigzag structure.
Up from there, the bounce ...
BAC is going through a triangle re-cap, but volume are extremely low, market are skeptic and waiting for further news.
The yield curve is flattening in hurry with the Turkey crisis and that is baaad for US banks. JPM is reversing off the top of a well established channel with MACD confirmation. Downside target of $106 gives a potential 7% return. Do note I am not advocating a straight line decline to the bottom of the range. Moves within channels are generally ABCD formations ...
BAC is testing its resistance at 31.43 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal overlap resistance) where price could potentially drop to its support at 29.59 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support).
Stochastic (89, 5, 3) is testing resistance at 97% where a corresponding reversal could occur. We ...
Bac has completed the Cypher pattern and has reached D, going down short term in my opinion
After break out, retraced, presenting a buying oppoturnity, for a nice trade, personally i wont chase here
Purple lines as support, orange lines as resistance.
Like all patterns wait for confirmation. Falling wedge on the weekly! Inverted hammer candle on last trading day, slightly bullish sign, earning is coming up. Take Care!!
So I took a position on the most recent break of the 200MA, thinking we would get a bounce. So much for that idea (still in position). However I found another reason to take a shot at entering a 2nd position in $BAC. As you can see we have support dating all the way back to end of October 2017. Take a look!!!! #GLTA
BAC (and the rest of the banking industry) has a rough few months ahead. The major institution has seen solid gains over the past year and is about to relinquish them all. The major indication this downtrend is about to pick up steam is seen as the 50 day moving average is ready to cross below the 200 day moving average, a major bearish sign known as the death ...
Every time I turn on CNBC, FBN, or the like, I hear a pundit or analyst pounding the table to "buy the banks." The go on to ramble a spiel about low valuation rations (P/B, P/E, P/FCF, etc), rising rate environments, yield curve inversions, and other reasons that they should outperform the markets going forward. But who's biting?
A quick glance at the SPDR ...
Triangle has been completed for BAC since the beginning of the year. Price broke MA 200 which has represented a prominent support so far. MA 50 and MA 200 are close to each other. MA 20 broken with volatility stop on negative configuration. Due to the restricted volatility accrued since the beginning of the year strong price movement will be expected!