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.
Hello Traders, Bank of America Elliott wave analysis suggests that a decline to $27.26 low ended blue wave (3). The internals of that decline unfolded in 5 waves impulse structure in lesser degree cycles. Up from there a 3 wave bounce to $29.19 high ended blue wave (4) as double three structure. Down from there, the stock declined lower in another lesser degree 5...
Hello Traders, BAC short-term Elliott wave view suggests that a decline from 8/08/2018 high to $27.64 low ended blue wave (W). The internals of that decline unfolded in 3 swings with the distribution of 5-3-5 zigzag structure. Up from there, a bounce to $29.20 high ended the short-term correction against 8/08/2018 high in blue wave (X) as double three structure....
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.
Dji starts at 9:15. Trading view forces the last viewed chart to take precedent for the category.
BAC is going through a triangle re-cap, but volume are extremely low, market are skeptic and waiting for further news.
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.
Hello Traders, 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...
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...
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...
Signal, Stop, and Targets Defined on chart
After break out, retraced, presenting a buying oppoturnity, for a nice trade, personally i wont chase here
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...
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!