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.
Inverse Head and Shoulders on the weekly / daily NYSE:BAC$BAC chart.
I would probably wait for $BAC to rise above $30.5 -$31 before entering into a long position.
If $BAC sees $31 then the first target is $32, and the last target is $35 (although I find this hard to believe to be honest).
Something to consider: $WFC Wells Fargo has a Head and Shoulders pattern...
Bank of America (BAC) shows an incomplete bullish sequence from December 25,m 2018 low, favoring further upside. In the short term update below, the rally from March 26, 2019 low ($26.61) to $29.50 unfolded as an impulse and ended wave 1. The stock then pullback in wave 2 to $28.74 as an Elliott Wave zigzag structure. It has since resumed higher again within wave...
We have a potential safe and profitable swing trade with $BAC. Price has now pull back up over the 9 day and 26 avg lines and now looking for further upside. The monthly Ichimoku cloud also indicates further upside for the weeks or months to come.
An analysis, not an investment advice.
Trade SAFE, trade PATIENTLY & say NO to GREED.
Clara la situación del banco estadounidense, con el arranque de hoy está superando la línea tendencial bajista que marcó la marcha del proceso correctivo de los últimos tiempos..
Ahora, en la medida que no vuelva debajo de 29.50 se puede comprar planteándose como objetivos de mínimas los 31.50 y 33.. arriba de esos valores podemos pensar en los 40 dólares de...
Bank of America - weekly zoom out
Range 31.55 - 25.88
support test at mean 28.65
low volume and momentum indicating test of mean support
VOL ATR - SHORT
macro sentiment unclear
short term neutral, long term bearish idea
next resistance up ~ 31.55
support at 25 and 22 and then down 14.80
Looking at BAC Morgans chart.
The SQZ indicator continues to turn hard green. Indicating further down side.
The stock has been ascending on descending volume. Bearish sentiment.
The MacD is about to have a bearish crossover.
The chart follows the bearish sentiment that is seen across the market.
The chart for Bank Of America (BAC) is looking bad long term, there are many signals pointing to a very strong drop.
The last time this company had a crash, it shredded over 95% of its value... The same might happen again.
Let's take a look at some of the signals:
Let's start by looking at Divergence, you can spot this marked with a light blue line on both...
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.
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...
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....
Some investors are looking for bonds instead of the banking loans (just for a while). Bank Of America is one of them, also they're going to report on October 15th, so the market is considering a better price for buying. Keep in mind that Wall Street is looking for a target of around $34. In my case, I'd like to see a real buying opportunity below $26.