Upbeat earnings and a very successful shareholders day have helped boost the upward moves in Bank of America. The sector overall is benefiting from improved sentiment and possible rotation into more secure sectors as healthcare looks like a falling knife and tech struggles with overvalue concerns. The US banking sector is strong and well capitalized with good...
I think BAC has finally broken out to the upside of an inverted head and shoulders on the weekly patter. In addition, it seems to have popped above a longstanding downtrend line which could give it a significant boost higher.
After 12 weeks of consolidation BAC broke out last week. Suggested increase of 13.4% or around a $4.00 move.
Two things to keep in mind are:
1. The resistance that will be met at 33.05, the highest price since 2009
2. One week didn't touch the mode, usually I don't chart a consolidation unless every candle in the consolidation touches. This was otherwise a...
Inverse Head and Shoulders on the weekly / daily NYSE:BAC$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...
Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in international markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S. Trust, Bank of America Private Wealth Management; Global Banking, which provides a range of lending-related products and services; Global Markets, which offers sales and trading services, and All Other, which consists of equity investments, residual expense allocations and other.
This website uses cookies to ensure you get the best experience on our website. To learn more about cookies, including how to control cookies, please read our Cookies Policy.
BAC
