12.1.17 | BAC | Day | Andrew Aponas
Updated
Journal Entry: I think the volume price analysis is unbalanced over the past few trading sessions. At first I was uncertain what this may be indicating but after I looked into this further I believe it is clear that the insiders are keeping the market propped up at this value and have the intentions to take the market higher. I have left various labels on the chart, the most relative is the last trading session which ended as a long legged Doji on extremely high volume. This could possibly be stopping volume to the bearish wave or it could be the insiders exiting their position at the top. I have found that it is an indication of stopping volume and the market will only be pausing for a brief moment before continuing higher. I projected the Fibonacci retracement tool to a future bullish target zone for price, although I think Monday there may be a chance of another small move to the downside before reversing. Thank You, God Bless.
Indicators:
ATR is at a high value which suggests that price will not pivot and most likely consolidate sideways or in a slow downward or upward direction.
EMA 20+50 are now both sloping upwards indicating the trend to have taken shape from a short period of consolidation where price was trading in/through the averages.
Useful Links:
http://www.stockconsultant.com/consultnow/basicplus.cgi?symbol=bac
https://www.predictwallstreet.com/PredictNow.aspx?symbol=bac
https://www.wolframalpha.com/input/?i=bank%2Bof%2Bamerica%2Bstock
https://ih.advfn.com/stock-market/NYSE/bank-of-america-BAC/stock-price
Indicators:
ATR is at a high value which suggests that price will not pivot and most likely consolidate sideways or in a slow downward or upward direction.
EMA 20+50 are now both sloping upwards indicating the trend to have taken shape from a short period of consolidation where price was trading in/through the averages.
Useful Links:
http://www.stockconsultant.com/consultnow/basicplus.cgi?symbol=bac
https://www.predictwallstreet.com/PredictNow.aspx?symbol=bac
https://www.wolframalpha.com/input/?i=bank%2Bof%2Bamerica%2Bstock
https://ih.advfn.com/stock-market/NYSE/bank-of-america-BAC/stock-price
Note
I have calculated another bullish target that seems to be around $29.50. Although this rally might be so strong that these targets become just a small check point a long the way. Please see the 30 minute chart for more updates. I will post a some updated news stories as well. Thank You, God Bless.
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