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Bank of America Corporation Non Cumulative Perpetual Conv Pfd Ser LBank of America Corporation Non Cumulative Perpetual Conv Pfd Ser LBank of America Corporation Non Cumulative Perpetual Conv Pfd Ser L

Bank of America Corporation Non Cumulative Perpetual Conv Pfd Ser L

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BAC/PL trade ideas

$BAC Wedge + Trending + DivergenceMonthly Chart Weekly Chart 1. Wedge We can see in the 1-hour chart of Bank of America that is forming a wedge. We can see the wedge with the purple lines in the price chart. 2. Regular Divergence In addition we can also see a regular divergence from 6th March to 23 March while the price was falling the indicator in the Rsi was rising. 3. Trend Line We can see better in the monthly chart that there is a trend line that is forming from about 2008. The next days that will be tested.And the is the second more general trend line forming decades before. 4. Support Line Also if we look in the monthly chart we will see that there is a main/strong support line that in the next days will be tested again. The 1st support line lies around at 15.24$ and the second at 4.92$ From the first two factors we can see that might be a breakout and form a new uptrend. At the 1 hour chart we will see that the wedge the 1st trend line and the 1st suport line get together in one spot. So the first scenario will be to test that support at 15$ and form a new uptrend. The second scenario is to break that support and fall until it lands at the more strong 2nd support and resistance at around 4,5$ and then form a new uptrend from there . Scenarios
NYSE:BAC
by we_axolotl
BAC - We are repeating the 2008 dropHello everyone, as we can see we are heading for the same % drop as in 2007, so expect till March - May 2021 the price to be around 5$ - 2.5$ . We do have support at 10$, but giving the fact how the 2007 crysis turned out for BAC with more than 90% drop, right now we are seeing record big drops, I see -90% from all time high price again. Right now we will see temporary retracement to the upside, but it will be fore 1-2 months, then we will drop again. Good luck to everyone, see you next year :D
NYSE:BACShort
by donaitelo
2
Bank Of America (BAC) Will Drop Hard (90%+ Crash?!)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 the MACD and RSI. These divergences work strongly on conventional assets, they always confirm. We have bearish divergence on both indicators. I marked a rising wedge in purple which is also bearish. You can expect the asset value to move a bit longer within the wedge before breaking down; if it does. Probabilities are really high... EMAs are going to be challenged now, this is our main support (22.33). The RSI is super bearish. Volume has dropped massive while price moving up. If you were to use this information to trade, a break and close above 28.45 would be a great stop loss. As for the way down, 13.62 can be your main target and more after/if this level breaks. ... This one is about to crash really hard... Just like it is happening with Apple, Google, SPX, DJI and the rest. Thanks a lot for reading. Namaste.
NYSE:BACShort
by MasterAnanda
11