The Federal Reserve said late Friday it will allow big banks to start buying back stock again, restrictions which were put in place in June amid concerns over the impact of the COVID-19 pandemic. (marketwatch.com)
Regarding Bank of America , the indicators were bullish since $24.
If you are interested to test some amazing BUY and SELL INDICATORS that i use,...
Contextual immersion trading strategy idea.
Virgin Galactic Holdings, Inc., an integrated aerospace company, develops human spaceflight for private individuals and researchers in the United States.
The share price rose after analysts at Bank of America (BAC) had initiated coverage on Virgin Galactic (SPCE) Monday with a buy rating and a 35 price target.
BAC looking to repeat this pattern, looking to retest 55 within these next couple years. Bounce off my support zone at 18.04 making its way up to retest 35.40 break that we could see an overall move up to $44. Perfect stock to add to your long term portfolio. Warren Buffet's second largest holding in his portfolio is BAC so why not invest and follow the most...
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.
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.
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.