Trend broken . Send it to March lows .
NYSE:BAC Just an idea: Wait for it drop to $23.00 - $23.50 zone. Then entry Long to $25.00 - $25.50. Stop loss or hold long is up to you. Disclaimer!
Picture perfect chart here. Only 4% between following key levels: - Support line has been tested 5 times & now coinciding with 50 dma - Resistance line has been tested 2 times & has been coinciding with 200 dma Daily RSI convergence confirming price action While in the middle of those support / resistance lines, 2 major dma's, we are also stuck between the 50 &...
BAC now clean break below trendline in overall downtrend. This could be a big long-term short around this area. (Opinion only, not financial advice)
My trade plan is continuous keeping all of Long positions in the Banking Sector. JPM and BAC can return to Uptrend after hit the Bottom Support Trend Line. Disclaimer!
Against a backdrop of the broader stock indices that don't seem to want to spend ANY time, at ANY level (w/ the possible exception of the Russell 2000), today we forayed BACk into Bank of America using a dynamic support level that printed at 25.5. When breakouts or fades get tricky, we like to fall BACk (okay, stop me) to names that are staying inside a well...
- 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...