NYSE:BAC
Lowest daily in over 3 years and a massive open gap below. Huge weekly uptrend breakdown.
Expecting another -10% downside from current levels to fill the gap. There are very high chances that bank of america revisits COVID lows.
Hello There!
Welcome to my new analysis of BAC. In recent times I have spotted important value stocks within the market that have the potential to emerge with a major transformational reversal and indicate main expansional determinations once the appropriate confirmations have emerged. In this case, I have analyzed BAC with the current ongoing underlying...
We also have bullish divergence on the macd.
Originally i thought we may see lower prices, but with the price action, paired with youtube and twitter sentiment being at all time lows, doomers everywhere, I will take the other side of that trade.
LONG
Looks like banks are not doing really good.
If the red line support is broken then price will move into the box in days.
Let's see if we just go range bound in the channel we are in.
Banks still losing momentum priced in silver.
Makes them vulnerable for a fast and furious tumble down the momentum mountain.
Last seen in 2000s, where silver went up hundreds of % .
#silver #bankofamerica #gold #inflation #bankingcrisis
If a price pattern moves in a sine wave pattern, we can say that it is cyclical. A sine wave is a repetitive pattern of peaks and troughs, which is the definition of a cycle.
However, it is important to note that not all sine wave patterns are created equal. Some sine wave patterns may be more cyclical than others. For example, a sine wave pattern with a very...
Has now pretty clearly broken the uptrend line going back over a decade. Earnings are 3 weeks from today. Ideal situation would be a retest of the trendline before now & then to get some puts for earnings. We'll see if she cooperates. I'm not usually one to care about fundamental reasons, but maybe this will be the quarter where the market decides those massive...
That... probably isn't good. Looks like this week will close below the decade plus uptrend line. Unless we get a quick reversal back above, I think the first downside target is the green monthly demand zone.
Hello traiders!
BAC is in the up trend. The price bounced from the support as you can see and it is expected to go up to the upsloping resistance which would be a target for longs and an entry for shorts.
If the price closes below the upsloping support, the trade setup is gonna be invalidated.
Good luck!
I recently released an indicator called the Cumulative Distribution Density of Dataset indicator. One of the main highlights of this indicator is its, at the time of writing, the only indicator available on Tradingview/Pinescript that assesses the degree of normality as well as the type of distribution of a ticker, index or economic variable. Before this, you...
MAXIMIUM COMPLACENCY. WHO ELSE IS WATCHING THIS?
Bank of America CONTINUING downfall versus energy!
Silver gained over 1700% and 550% previous times this happened.
Technical notes:
1) 1970s this was a gold, silver & crude oil BULL ERA
2) 2000s this was a gold, silver & crude oil BULL ERA
3) COMPLACENY AT THE WORST POSSIBLE TIME
4) Silver's Performance Tracks...
At the price of <$30 per share, this is a good opportunity to buy some Bank of America stock.
There are major issues with the banking system, mortgage market and bond market.
Due to the system we live in, this will lead to destruction of small banks, and the capital will flow into the large established banks. GS is too expensive so BAC offers some more...
Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 29.2/61.80%
Chart time frame : B
A) 15 min(1W-3M)
B) 1 hr(3M-6M)
C) 4 hr(6M-1year)
D) 1 day(1-3years)
Stock progress : B
A) Keep rising over 61.80% resistance
B) 61.80% resistance
C) Hit the bottom
D) Hit the top
Stocks rise as they rise from support and fall from resistance....
20 YEARS LATER...
Bank of America (priced in silver) still down over 85%.
It now needs a 600% move to get back those highs.
Always use gold or silver to remove the fiat illusion.
Technical notes:
1) below cloud +1 & 3 year moving averages
2) right above early breakdown line
3) complacency volume
4) below wall (support turned resistance)
Until this changes,...
I like BAC, But it seems quite clear to me that we are going deeper.
So where is the next logical support?
well, it would be the completion of a harmonic shark, a historical support, and the touch on the bottom of a falling wedge.
3 different types of market participants, and maybe even more signs will show up at that time, will likely place market bids...
