Bank Of America (BAC), monthly chart: 20 years long(!) mirror level + Support line + Divergence + Hammer
BUY ONLY FOR THIS ONE : @BAC Expecting 16 Jul 2020 EST EPS USD 0.33 Last EPS USD 0.40 Last DIvidend per Share USD 0.18
BUY only for this One... @BAC Estimated EPS USD 0.33 Last EPS USD 0.40 Last Dividened USD 0.18
Hello Everyone! Today quite a weird close for BAC few cents below its 50 moving average, this moving average sustained the price action since the lows of March, is this behaviour a sign of weakness ? It might be, as it had all chances to close above this level and it finished below. Price is trading in an important area, very close to the 50% Fibonacci...
Buy Only for This One... @BAC Estimated Earning Per Share USD 0.34 Last EPS USD 0.40 Last Dividend per Share USD 0.18
Be able to follow and anticipate the 15 minutes move to Buy CAll and/or Put
Price is sitting at the neckline of " Head and Shoulders" Pattern. We wait for a breakdown and a retest before considering a Sell position.
Major banks in USA e.g. JPM, BAC, UBS are showing uptrend hence buying opportunities on correction Attractive risk reward Following entries are valid only for trading on 15 June 2020 JPM Entry: 99.35 SL: 97.53 Target: trail the price BAC Entry: 24.60 SL: 24.05 Target: trail the price USB: Entry: 37.25 SL: 36.70 Target: trail the price
I personally think that the best option is to stand aside: Prices might move inside the channel (as suggested by the Stochastic - Go short), but they can still turn up again. Just wait if the price will be able to overcome the support level again before buying.
BAC offers a good example of the value of perceiving the big picture in terms of technicals, with key pivots coming at very obvious points in the chart narrative. Right now, we may be defining an extended period pinned between $18-28, where we have long-term support and resistance, net-interest margins at razor-thin levels, and no conviction about the future.
The GAP has been filled... The Fed has spoken... The more than $80B a month will continue until further notice... So is this $80B good for Bank stocks?? We would say YES!
$ASPS over 1600 pre foreclosures alone in Las Vegas already, dont trust your realtor, possibly the worst time in history to buy a house, ride the foreclosure wave and invest in $ASPS. Nice consolidation and bear wedge, things baby is gonna be at the moon! Flush your mortgage stocks down the toilet $BAC $C $JPM $IMH $FBC $PFSI $PNC $WFC $FNMA $FMCC
How would the BANKS react if the Fed institutes yield curve control (YCC)?? Do we see $30 or go back and fill the GAP!
With the 9, 20 & 50MAs above a key resistance line does that bode well for BAC? We would say yes!
Bank of America Technical Analysis - Before going long wait the resistance line will be broken, otherwise the other option is to go short for a short term investment where prices will keep moving inside the channel.
The breakout of the support can be seen as a buying signal.