BAC run-up till ER
BACWith vaccine news, banks are expected to have less money put aside to cover default-risk-related assets, that is the recent run up.
Also the fed Rate has "quietly" go up and US 10Y also run up which cause this bank bull run.
so Bull side: more vaccine/news rally this can go to test 30.4 level , which could be a strong resistance.
Bear side: considering 2H,4H MACD strength as declined although price has pushed higher, this indicate upside strength losing.
Overall : current price indicate bull side, unless 27.8 area breaks ( we also have 20MA below) we can hold and using covered calls at 31 level to lower position cost.
Patience is the key.
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