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BAC

Elliott Wave View: Bank of America (BAC) Correction Should Find Short Term view in Bank of America (BAC) suggests the rally from July 19, 2021 low is in progress as a 5 waves impulse Elliott Wave structure. Up from July 19 low, wave (1) ended at 42.84 and pullback in wave (2) ended at 38.36. The stock has resumed higher in wave (3) with internal subdivision as another impulse in lesser degree. Up from wave (2), wave ((i)) ended at 39.80 and dips in wave ((ii)) ended at 38.94. Wave ((iii)) ended at 44.04, pullback in wave ((iv)) ended at 41.80, and final leg higher wave ((v)) ended at 44.87. This completed wave 1 of (3) in higher degree. Wave 2 pullback is now in progress to correct cycle from September 21 low before the rally resumes. Structure of wave 2 pullback is unfolding as a double three Elliott Wave structure. Down from wave 1, wave (w) ended at 43.27, wave (x) ended at 44, and wave (y) ended at 42.33. This completes wave ((w)) in higher degree. Expect wave ((x)) rally to fail for another 3 waves lower to end wave ((y)) of 2 before the stock turns higher again. Near term, as far as September 21 low pivot at 38.34 stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.
NYSE:BAC
by Elliottwave-Forecast
1
Bank of America Bearish. BACPost Ascending triangle, and B wave of Zigzag. Quite a clear picture here and plenty of time to complete the zigzag. It's correcting now post most recent overbought state as well. We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets going down are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe!
NYSE:BACShort
by Rykin_Capital
The Magical 50 days Exponential Moving Average (50EMA)In 2021, we should take the price reaction to 50EMA very seriously! Especially if you like to buy the dips! I believe it could be single best tool to help you find the best entry and exit point in many tickers..! Let's review few examples: 1- NASDAQ:NVDA 2- NASDAQ:MSFT 3- NASDAQ:AAPL 4- NASDAQ:GOOG 5- NASDAQ:FB 6- NYSE:CRM 7- NASDAQ:CSCO 8- NYSE:SNOW 9- NYSE:BAC 10- NYSE:XOM and major indexes: SP:SPX TVC:NDX TVC:DJI What is Price Action? Price action is the movement of a security's price plotted over time. Price action forms the basis for all technical analysis of a stock, commodity, or other asset charts. Many short-term traders rely exclusively on price action and the formations and trends extrapolated from it to make trading decisions. Technical analysis as a practice is a derivative of price action since it uses past prices in calculations that can then be used to inform trading decisions. Price action generally refers to the up and down movement of a security's price when it is plotted over time. Different looks can be applied to a chart to make trends in price action more obvious for traders. Technical analysis formations and chart patterns are derived from price action. Technical analysis tools like moving averages are calculated from price action and projected into the future to inform trades. How to Use Price Action Price action is not generally seen as a trading tool like an indicator, but rather the data source off which all the tools are built. Swing traders and trend traders tend to work most closely with price action, eschewing any fundamental analysis in favor of focusing solely on support and resistance levels to predict breakouts and consolidation. Even these traders must pay some attention to additional factors beyond the current price, as the volume of trading and the time periods being used to establish levels all have an impact on the likelihood of their interpretations being accurate. Limitations of Price Action Interpreting price action is very subjective. It's common for two traders to arrive at different conclusions when analyzing the same price action. One trader may see a bearish downtrend and another might believe that the price action shows a potential near-term turnaround. Of course, the time period being used also has a huge influence on what traders see as a stock can have many intraday downtrends while maintaining a month-over-month uptrend. The important thing to remember is that trading predictions made using price action on any time scale are speculative. The more tools you can apply to your trading prediction to confirm it, the better. In the end, however, the past price action of a security is no guarantee of future price action. High probability trades are still speculative trades, which means traders take on the risks to get access to the potential rewards. Conclusion: Monitor asset reaction to 50EMA and define your entry and exit strategy based on this simple tool! Reference Article:: www.investopedia.com
TVC:SPXEducation
by Moshkelgosha
18
BAC Daily TimeframeSNIPER STRATEGY (new version) It works ALMOST ON ANY CHART. It produces Weak, Medium and Strong signals based on consisting elements. NOT ALL TARGETS CAN BE ACHIEVED, let's make that clear. TARGETS OR ENTRY PRICES ARE STRONG SUPPORT AND RESISTANCE LEVELS. ENTRY PRICE BLACK COLOR TARGETS GREEN COLOR STOP LOSS RED COLOR DO NOT USE THIS STROTEGY FOR LEVERAGED TRADING. It will not give you the whole wave like any other strategy out there but it will give you a huge part of the wave. The BEST TIMEFRAMES for this strategy are Daily, Weekly and Monthly however it can work on any timeframe. Consider those points and you will have a huge advantage in the market. There is a lot more about this strategy. It can predict possible target and also give you almost exact buy or sell time on the spot. I am developing it even more so stay tuned and start to follow me for more signals and forecasts. START BELIEVING AND GOOD LUCK HADIMOZAYAN
NYSE:BACShort
by hadimozayan
BANK OF AMERICA Daily TimeframeSNIPER STRATEGY This magical strategy works like a clock on almost any charts Although I have to say it can’t predict pullbacks, so I do not suggest this strategy for leverage trading. It will not give you the whole wave like any other strategy out there but it will give you huge part of the wave. The best timeframe for this strategy is Daily, Weekly and Monthly however it can work any timeframe above three minutes. Start believing in this strategy because it will reward believers with huge profit. There is a lot more about this strategy. It can predict and also it can give you almost exact buy or sell time on the spot. I am developing it even more so stay tuned and start to follow me for more signals and forecasts.
NYSE:BACShort
by hadimozayan
BAC Bullish Trend(Update)BAC is slowly forming signals that may suggest an up-move to be had. Currently I'm making this TA during market hours so I suggest you wait until market close to see if the TA still holds up. I believe we may see a move to the 44's since we are seeing a ema cross form on the Willy Oscillator. Not only is the willy oscillator forming a trend, but the squeeze indicator shows reducing selling momentum. If you are a more of a risk aversive trader then it may be wise to wait to see a confirmed squeeze or to wait and see if BAC comes back to support. Bullish Signals -Ema cross(willy oscillator) -Squeeze indicator(reducing selling) Price Target -43.43
NYSE:BACLong
by ddcakez
FXCM USBANKS Basket Hourly Rally in Longer-Term WeaknessFXCM's USBANKS basket is in the bearish area on the daily chart on the left. The basket is an equal weighting (20% each) of JPM, BAC, WFC and C. A bearish cross of the EMAs and stochastic potentially align short-term traders with the daily. If signals occur, movement of stochastic to 20 level and maintenance of that level increase the chances of a successful trade. Trend following indicators may be useful in this case as a potential exit tool. Stop above hourly high in conjunction with risk management techniques.
FX:USBANKSShort
by FXCM
2
BAC Ahead of EarningsNYSE:BAC BAC has earnings on Wednesday and I thought I would give my thoughts on potential trades ahead of the big day. Firstly on the 4h chart, I notice that the price is below the red line currently(red represents the 200 day moving average) which is a strong support/resistance zone. Right now the price is below the line and it acts as a resistance as seen in the months before as well. Another thing of note is that BAC has beat earnings expectations for the last 5 quarters in a row, however, this does not always mean the price will go up afterward. The last quarter showed a large beat on expectations yet the price still went down. If the price does break through the 200 day moving average after earnings, I would recommend a long position but currently I am advocating for a short also noting how much the company's price has grown in the past year (+68%).
NYSE:BACShort
by Mr_Meowster
Alarming sign in S&P500If you sort the market based on the YTD performance Financial sector would be the front runner in 2021..! Although big banks' stocks are traded at slightly lower prices these days, they outperform most tech stocks and major indexes in 2021..! this could be an alarming sign for S&P 500..! NYSE:JPM NYSE:BAC NYSE:WFC NYSE:GS NYSE:C NYSE:AXP a comparison between S&P 500 and banks performance in 2021: A comparison between big banks and major indexes' performance in 2021! Just to add the last cherry on the cake: do not forget when I published the post about NASDAQ front runner in mid-February 2021: All EV makers experienced a crash after that and never see the same price..!
TVC:SPX
by Moshkelgosha
6
BAC Getting Back To $40.80 - Resistance On The DailyBAC is finally back above $40.50 but now the fight starts at $40.80. It was a previous level of support this quarter now I think it could be a resistance level on the daily chart. Wit the stress test news, it wouldn't surprise me if it waffles a bit around here then hopefully breaks. I'm long right now with both stocks and options on the company. IF/WHEN $40.80 breaks, then I'd like to see it test and break above the 50DMA sitting around $41.18. Will it happen overnight? we'll see but any major extension could be met with some profit-taking too so I'm keeping that in mind also. Option are for trading, the stock I'm in from the teens and holding long. Wouldn't want to treat these banks like penny stocks in any way but the recent volatility has definitely brought in some trading momentum as opposed to the buy and hold peeps from earlier in the year.
NYSE:BACLong
by PennyStocks101