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BOAC34 trade ideas

Elliott Wave Expects Bank of America (BAC) to Continue HigherShort Term Elliott Wave in Bank of America (BAC) shows incomplete bullish sequence from 4.16.2024 low. Up from there, wave (1) ended at 38.49. Dips in wave (2) unfolded as a zigzag structure. Down from wave (1), wave A ended at 37.38 and rally in wave B ended at 38.31. The 45 minutes chart below shows the wave B as the starting point. Down from there, wave ((i)) ended at 37.75 and wave ((ii)) ended at 38.06. Wave ((iii)) lower ended at 36.82 and rally in wave ((iv)) ended at 37.51. Final leg wave ((v)) ended at 36.65 which completed wave C of (2). The stock has turned higher in wave (3). Up from wave (2), wave ((i)) ended at 38.15 and pullback in wave ((ii)) ended at 37.46. The stock extended higher in wave ((iii)) towards 38.78 and dips in wave ((iv)) ended at 38.10. Up from there, wave (i) ended at 38.79. Expect pullback in wave (ii) of ((v)) before stock turns higher again in wave (iii) of ((v)). Near term, as far as pivot at 36.65 low stays intact, expect pullback to find support in 3, 7, 11 swing for further upside.
NYSE:BAC
by Elliottwave-Forecast
Could Bank of America be a point of interest in the next month.Hellooo I guess you all realized that how much I am interested in bigger time frames. Now I have brought you another share that I think will be a really good chance for our nest weeks trades. I do not care about last waves before this Leading Diagonal because if this Leading Diagonal is confirmed it does not matter if it wave 1 or wave A of a zigzag. What we should do is that put it in our watch list and wait and see if its next movements (Correction Pattern) can make us confident about this pattern. Note that potential retracement for leadinigs is 78.6 even it does not make sense that this huge correction does not make sense. Inside the correction: Our Cycle leading (if it is true) ended in the price 50.11 and then its correction started to shape wave (II). In this way, wave A of ABC of wave (II) was finished as a leading diagonal (Primary) and it should continue the of this correction pattern as a ZIGZAG (If wave A of correction is Leading Diagonal so our correction pattern must be a ZIGZAG). All these ideas are just ideas till our correction pattern completes and then we will decide about Cycle Leading Diagonal entry point. For now trading we can wait for wave B Primary and then if it corrects logically we can get a Buy Position for wave C primary or if it tries to deceive us with ugly shapes so we will wait till this ABC Primary completes and then get a sell position. (we will discuss about then in the due time). Be safe
NYSE:BACLong
by AMA_FX
$BAC Megaphone pt2?I have an older BAC idea from a few weeks ago that shows a LARGE megaphone pattern that started after the 08 Crash being tested. It held and bounced but formed what seems to be another NICE smaller weekly megaphone pattern that we are testing and in the morning rejecting at the upper band. AMAZING DOWNSIDE JUICE in these patterns imo. I will be looking for a BADDDDD DAY in the markets over the next 2 weeks before i bite on any 25P for mid APRIL.... Stay Tuned -Proffesseas
NYSE:BACShort
by Prophecies_R_Us
BAC Bank of America Corporation Options Ahead of EarningsIf you haven`t bought AAPL before the previous earnings: Then analyzing the options chain and the chart patterns of BAC Bank of America Corporation prior to the earnings report this week, I would consider purchasing the 35usd strike price Calls with an expiration date of 2024-8-16, for a premium of approximately $2.82. If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
NYSE:BACLong
by TopgOptions
Bank of America -Weekly 26 EMA pointing upwards suggesting an uptrend. -A successful visit on the 26 EMA is recognized as well. -FED rate cuts paused. -There is a rumor that wants bank regulators to propose limitations on the compensation of the executives. Long sentiment. -Price inside a negotiation area that forms the lower edge of a bigger range. Entry after the successful completion of the flag when a strong bull candle/pattern appears. Stop loss below the flag. Target on the extremes of the opposite negotiation area. The trade here is indicative.
NYSE:BACLong
by koumkouat
Bank of America Navigates Turbulent Waters: Beating Earnings Bank of America (NYSE: NYSE:BAC ) emerges from the first quarter with a mixed bag of results, showcasing resilience amidst economic uncertainty. While surpassing Wall Street's expectations on both revenue and earnings, the bank grapples with elevated expenses and mounting charge-offs, casting a shadow on its post-earnings performance. Earnings Beat Amidst Headwinds: Bank of America ( NYSE:BAC ) reported earnings of $0.83 per share on sales of $25.82 billion, outpacing analysts' forecasts. Despite this positive outcome, shares experienced a slight dip of about 3%, reflecting investor concerns over elevated expenses and an uptick in charge-offs of bad loans. The bank's diversified revenue streams, including robust performance in investment banking and trading, partially offset lower net interest income, underscoring its adaptability in challenging market conditions. Consumer Banking Dynamics: In the consumer banking segment, Bank of America ( NYSE:BAC ) faced headwinds with a 5% decline in revenue and a 7% dip in average deposits, albeit remaining above pre-pandemic levels. However, the addition of 245,000 new checking accounts and strong growth in global wealth management, banking, and market divisions signal underlying strength in client acquisition and relationship-building efforts. CEO Perspective and Strategic Outlook: CEO Brian Moynihan highlighted the bank's strong quarter, emphasizing business performance and client engagement. Despite economic uncertainties, Bank of America ( NYSE:BAC ) remains optimistic about its market-leading positions and emphasizes continued focus on earnings growth and expense management to drive shareholder value. Navigating Economic Uncertainty: While Bank of America ( NYSE:BAC ) showcased resilience, challenges persist, particularly in managing credit card issues and addressing elevated charge-offs. The bank attributed the higher-than-expected charge-offs to lingering effects from the previous quarter but expressed confidence in stabilization moving forward. Additionally, one-time expenses, such as the FDIC special assessment, posed temporary hurdles but underscored the bank's commitment to regulatory compliance and financial stability. Investor Considerations: For investors seeking exposure to national banking franchises, Bank of America presents an intriguing opportunity. Despite short-term headwinds, the bank's resilient performance and strategic positioning in key business segments warrant consideration. As economic conditions evolve, investors should monitor Bank of America's proactive measures to mitigate risks and capitalize on growth opportunities. Conclusion: Bank of America's ( NYSE:BAC ) first-quarter performance reflects a blend of resilience and challenges in navigating the dynamic economic landscape. While surpassing earnings expectations, concerns linger over elevated expenses and credit quality issues. However, the bank's strategic focus on client engagement, expense management, and regulatory compliance positions it for long-term success. Technical Outlook Bank of America's ( NYSE:BAC ) stock is trading below the 200-day Moving Average (MA) with a weak Relative Strength Index (RSI) of 35.86 further accentuating to the bearish position of NYSE:BAC stock is the bearish Harami pattern exhibited in the 4- Month price chart.
NYSE:BACShort
by DEXWireNews
Bank of America (BAC) Near Support AreaElliott Wave Structure in Bank of America (BAC) shows incomplete bullish sequence from 10.27.2023 low favoring further upside. Short Term, rally from 1.17.2024 low is unfolding as a 5 waves impulse Elliott Wave structure. Up from there, wave (1) ended at 35.1 and dips in wave (2) ended at 32.35. The stock extends higher again in wave (3). Up from wave (2), wave 1 ended at 36.45 and pullback in wave 2 ended at 35.24. The stock extended higher again in wave 3 towards 37.64 and pullback in wave 4 ended at 36.8. Final leg wave 5 ended at 38.35 which completed wave (3). The stock is now pulling back in wave (4) with internal subdivision as a zigzag structure. Down from wave (3), wave A ended at 37 and rally in wave B ended at 38.02. Wave C lower is in progress and can see further downside as a 5 waves. Down from wave B, wave ((i)) ended at 37.25 and wave ((ii)) ended at 37.96. Wave C target can reach 100% – 161.8% Fibonacci extension of wave A. This area comes at 35.85 -36.68. From this area, the stock can see buyers for further upside or 3 waves rally at least.
NYSE:BAC
by Elliottwave-Forecast
1
Bank of America (BAC) Near Support AreaElliott Wave Structure in Bank of America (BAC) shows incomplete bullish sequence from 10.27.2023 low favoring further upside. Short Term, rally from 1.17.2024 low is unfolding as a 5 waves impulse Elliott Wave structure. Up from there, wave (1) ended at 35.1 and dips in wave (2) ended at 32.35. The stock extends higher again in wave (3). Up from wave (2), wave 1 ended at 36.45 and pullback in wave 2 ended at 35.24. The stock extended higher again in wave 3 towards 37.64 and pullback in wave 4 ended at 36.8. Final leg wave 5 ended at 38.35 which completed wave (3). The stock is now pulling back in wave (4) with internal subdivision as a zigzag structure. Down from wave (3), wave A ended at 37 and rally in wave B ended at 38.02. Wave C lower is in progress and can see further downside as 5 waves. Down from wave B, wave ((i)) ended at 37.25 and wave ((ii)) ended at 37.96. Wave C target can reach 100% – 161.8% Fibonacci extension of wave A. This area comes at 35.85 -36.68. From this area, the stock can see buyers for further upside, or 3 waves rally at least.
NYSE:BAC
by Elliottwave-Forecast
BAC setting up to thrive from rate - cuts LONGBAC is showed here on a 100R(ange) where price action from the Covid lows to the federal stimulus highs to the fade and consolidation of Summer 2022 to Summer 2023 and another fade and reversal from it are seen on the chart. At presen, BAC has reversed upside. With Uncles Powell and Sam announcing likely three rate cuts in 24Q3 and 24Q4, I see banks including BAC getting a break with more loan originations and less pressure for high payouts on savings accounts which may be the capital sources of those loans. I see this a an opportunity here and now to take long positions before those hypothetical cuts get baked into the price. The same may go for WFC, JPM, GS and others. My first target is 44 at the " neckline" of the 3,4Q21 triple top.
NYSE:BACLong
by AwesomeAvani