- ON THE TRENDLINE SUPPORT - AT THE APEX; EXPECTING A BREAKOUT INTO NEXT WEEK - RISK OF 2%~ IF DAILY CANDLE CLOSES STRONG BELOW TRENDLINE - UPSIDE POTENTIAL OF 28+%
BAC is on a strong ladder pattern upward, bull run can be confirmed looking at RSI. Possible Next stop 28 and depending on market reaction, a retest of upper resistance.
BAC is forming Cup and Handle on D1 chart. Now is $26.50. with this pattern BAC's target are: $27.50 and $29.00. While the market in the correction process. The cash flow from other Sectors that are Overbought is certainly looking for a new destination. Banking is a good Sectors that is regaining balance when it exits the Oversold zone and keep going up slowly. I...
The 1/3rd gann line is acting as a strong support aswell as the 0.382 fib level that created a triple bot. The price will pull back to 0.382 level to the short term fib level which lines up perfectly with the 1/3rd gann support line and from there it will continue its way up to $27.07 price target which is the trend line and which is also 1.272 fib level before...
Based only on technical analysis, the idea is to go long as the resistance level of 26.5 USD has been broken many times. To be on the safe side, as there are not a lot of signal the best option could be still to HOLD.
Happy Labour day weekend traders! Looking at banks here, BAC and JPM with Ascending triangles, possible breakout in banks. A test of the 200 SMA would be 27.28. Recent option flow, 3200 Nov $28 calls for BAC. JPM - over 5000 for Nov $110 calls. I will post some more charts later. Enjoy!
NYSE:BAC is undergoing a 3 rising valleys pattern which is very bullish when you combine it with divergence on both oscillators. The tech sector seems to be bleeding and investors might shift their cash into financials such as BAC. Targets are also provided if one was to take part in it. Very good R/R ratio so stop loss could be set a litter looser. This is...
M15 and H1 timeframes give clear bullish signals on Heikin Ashi candles. M15 is trending up to tear the EMA ribbon silk. MACD on H1 is showing a cross below zero line. At the same time, CCI and RSI are showing bullish signal too. Disclaimer!
Disclaimer!
Bear Flags are Ranges which are repeatable trading chart patterns. Bear Flag chart patterns will have a directional bias depending on the previous incoming trend. Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern. Whatever time frame you are trading this chart pattern, wait for a candle close outside of the...
BAC 4hrs looks very tempting setup As long it stays above the highlighted trend line we should head for gap fill by EOY
Bank of America Given that Buffett's favorite industry to invest in is banking, perhaps it comes as little surprise that he's been piling into Bank of America (NYSE:BAC) in recent weeks. After obtaining permission in April from the Federal Reserve Bank of Richmond to increase Berkshire's ownership stake in BofA past the usual 10% limit for investment companies,...
BAC : Bank Of America , Too big to fail .
BAC DAily/Hourly demand zone 25.55 - 25.2 cmp:25.95 17 aug 2020 price quite near to demand zone, after making few exciting drop in hourly candles pro: 1. 2 exciting candles legout 2. origin of upmove in hourly candles 3. good single exciting candle legout in daily location time frame 4. BAC is in trend till it hit next weekly supply Con: 1.Approaching and...
Hello Everyone! Watch the closing of BAC today as price came closer to its 20 sma and looks like ready to bounce off heading north. Where north ? if that will be the case 27,50 is next target, than 29,00. If trend will remain bullish we are going to get confirmation from XLF as well, very close to its 20 sma the index looks like the photocopy of BAC, than if BAC...
After spending some time watching the chart there are some things that I would like to highlight: First of all the last candle stays in a crucial zone which is a resistance line. Besides, this candle is above the moving average (150) which could be a long signal and if we follow the analysis the fibonacci retracement lines (150) show us that the current price is...