BAC (Bank of America Corporation) - Sector: Financials (Banking)
Sentiment: Bearish. Put volume rises, RSI 45 weakens, X posts note banking fears from tariffs/economic uncertainty.
Tariff Impact: Moderate. Tariffs may slow growth, impacting loans, but domestic focus softens the blow. Sentiment drives more than fundamentals.
News/Catalysts: Banking sentiment shifts on X. Consumer Credit (April 8) could signal credit trends.
Technical Setup:
Weekly Chart: HVN above as resistance, weekly low as support. Downtrend (8-week EMA < 13-week < 48-week). RSI 45 (neutral, fading), MACD below signal (negative histogram widening), Bollinger Bands near lower band, Donchian Channels below midline, Williams %R -68 (nearing oversold).
One-Hour Chart: Support below, resistance near highs, weekly alignment. RSI 42, MACD below signal (negative histogram growing), Bollinger Bands at lower band, Donchian Channels below midline, Williams %R -74 (close to oversold).
10-Minute Chart: Bearish breakdown, 8/13/48 EMAs down, RSI 42 weakening, MACD flat near zero.
Options Data:
GEX: Bearish—pinning below close, dealers hedge puts to resist upside.
DEX: Bearish—put delta leads, selling bias.
IV: Moderate—slightly above norm (e.g., 25–30% vs. 20–25%), uncertainty raising prices. Supports GEX pinning, boosts DEX bearish bias.
OI: Put-heavy—high OI at lower strikes, capping downside.
Sympathy Plays:
JPM (JPMorgan Chase): Moves in sync—rises if BAC takes off, falls if BAC dumps.
C (Citigroup): Correlates via banking—gains with BAC rallies, drops with sell-offs.
Opposite Mover: BAC dumps → defensive stocks like JNJ may rally; BAC rallies → JPM/C surge.
Sector Positioning with RRG:
Sector: Financials (Banking).
RRG Position: Weakening Quadrant. BAC’s economic sensitivity fades vs. XLF as tariffs/rates weigh.
Targets: Bullish +3% (hourly resistance); Bearish -5.1% (weekly support).
Trade Idea: Weekly put (exp. April 11) on 10-min breakdown, target support, stop above close.
Sentiment: Bearish. Put volume rises, RSI 45 weakens, X posts note banking fears from tariffs/economic uncertainty.
Tariff Impact: Moderate. Tariffs may slow growth, impacting loans, but domestic focus softens the blow. Sentiment drives more than fundamentals.
News/Catalysts: Banking sentiment shifts on X. Consumer Credit (April 8) could signal credit trends.
Technical Setup:
Weekly Chart: HVN above as resistance, weekly low as support. Downtrend (8-week EMA < 13-week < 48-week). RSI 45 (neutral, fading), MACD below signal (negative histogram widening), Bollinger Bands near lower band, Donchian Channels below midline, Williams %R -68 (nearing oversold).
One-Hour Chart: Support below, resistance near highs, weekly alignment. RSI 42, MACD below signal (negative histogram growing), Bollinger Bands at lower band, Donchian Channels below midline, Williams %R -74 (close to oversold).
10-Minute Chart: Bearish breakdown, 8/13/48 EMAs down, RSI 42 weakening, MACD flat near zero.
Options Data:
GEX: Bearish—pinning below close, dealers hedge puts to resist upside.
DEX: Bearish—put delta leads, selling bias.
IV: Moderate—slightly above norm (e.g., 25–30% vs. 20–25%), uncertainty raising prices. Supports GEX pinning, boosts DEX bearish bias.
OI: Put-heavy—high OI at lower strikes, capping downside.
Sympathy Plays:
JPM (JPMorgan Chase): Moves in sync—rises if BAC takes off, falls if BAC dumps.
C (Citigroup): Correlates via banking—gains with BAC rallies, drops with sell-offs.
Opposite Mover: BAC dumps → defensive stocks like JNJ may rally; BAC rallies → JPM/C surge.
Sector Positioning with RRG:
Sector: Financials (Banking).
RRG Position: Weakening Quadrant. BAC’s economic sensitivity fades vs. XLF as tariffs/rates weigh.
Targets: Bullish +3% (hourly resistance); Bearish -5.1% (weekly support).
Trade Idea: Weekly put (exp. April 11) on 10-min breakdown, target support, stop above close.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.