To keep in portfolioNYSE:BAC
The next target is 50 dollars.
If you have any questions, feel free to contact me.
Bankofamerica
Bank of America (daily - log )Hello community,
Following the publication of Warren Buffet's results, I looked at the Bank of America stock.
Since the beginning of the year, performance 28%
Why did you sell the stock, there must be a reason that I don't know.
Upward trend, I put the 3 accumulation zones on the chart.
Make your opinion, before placing an order.
► Thank you for boosting, commenting, subscribing!
BANK OF AMERICA Short-term buy signal.Last time we gave a signal on the Bank of America Corporation (BAC), was exactly a year ago (October 11 2023, see chart below), with the stock giving us a highly profitable buy trade, hitting the $44.00 long-term Target:
This time our focus is on the shorter term 1D time-frame where the stock is forming a Bullish Megaphone similar to the one in January - March 2024. Currently the price is pulling back (blue circle) and the symmetric pattern of mid March 2024 suggests that it should now rebound towards the 2.0 Fibonacci extension.
As a result, we are turning bullish mid-session, targeting $44.00 (above Fib 2.0 and below Resistance 1).
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Bank of America Stock Surge on Q3 Earnings BeatBank of America (NYSE: NYSE:BAC ) delivered impressive third-quarter results, showcasing its resilience amid a challenging economic landscape. The bank reported $25.34 billion in revenue, slightly up from $25.17 billion a year earlier and above the analysts' consensus projection of $25.28 billion. Although profit fell to $6.90 billion ($0.81 per share) from $7.8 billion ($0.90 per share) last year, this was still better than the expected drop to $6.45 billion** or $0.75 per share.
Key Financial Highlights:
- Net Interest Income (NII) was reported at $13.97 billion, down from $14.38 billion a year ago but exceeding the expectation of $13.85 billion.
- The bank's trading revenue saw a significant uptick, with fixed income trading revenue rising 8% to $2.9 billion and equities trading jumping 18% to $2 billion.
These results come on the heels of similar positive reports from rivals like JPMorgan Chase and Wells Fargo, highlighting a robust start to the big bank earnings season. This broader positive sentiment in the banking sector is likely contributing to a favorable outlook for Bank of America.
Technical Analysis
As of the time of writing, NYSE:BAC shares are up 1.62%, signaling a bullish trend. The stock has recently rebounded from a consolidation zone, gathering momentum for further upward movement. A key indicator of this bullish sentiment is the Relative Strength Index (RSI), currently hovering around 71, indicating that the stock is entering overbought territory.
The stock's performance is further supported by its trading above key moving averages, which traditionally signals a strong bullish trend. Analysts note that this upward momentum, combined with the bank's robust earnings, positions Bank of America (NYSE: NYSE:BAC ) favorably for potential further gains, especially as NII shows signs of recovery.
Investment Implications:
The current trajectory suggests that Bank of America (NYSE: NYSE:BAC ) is turning a corner in terms of NII, as indicated by analysts like Wells Fargo's Mike Mayo. With the Federal Reserve having recently cut interest rates, analysts believe this should help improve bank earnings moving forward, as lower deposit costs may enhance profitability.
Additionally, with a provision for credit losses reported at $1.5 billion, slightly under the estimated $1.57 billion, the bank appears to be managing its risks effectively, further instilling confidence in investors.
Conclusion
Bank of America's latest earnings report reflects a strong performance amid a dynamic banking environment. The combination of better-than-expected trading results, a recovery in NII, and robust investor sentiment positions NYSE:BAC as a compelling investment opportunity. As the bank continues to navigate the evolving landscape of interest rates and economic conditions, investors may want to keep a close watch on its performance in the upcoming quarters.
EUR/USD in Trouble? BofA May Think So Bank of America (BofA) anticipates that the European Central Bank (ECB) will reduce interest rates more aggressively than what is currently reflected in the EUR/USD.
This expectation is driven by doubts surrounding the ECB's estimate of the neutral rate and shifting savings and investment patterns within the Euro Area.
Even so, the EUR/USD has dropped to a new weekly low of 1.0950. With the U.S. dollar maintaining a bullish trend across the FX market, the pair may decline further, potentially testing the next support level at 1.0910.
If BofA’s forecast holds true, EUR/USD could revisit the lower highs seen in August and July, signaling a deeper pullback.
Is Warren Buffett Losing Faith in Bank of America?A Strategic Shift with Far-Reaching Implications
Warren Buffett, the legendary investor and CEO of Berkshire Hathaway, has taken a significant step that has sent ripples through the financial world. Berkshire, a long-time major shareholder of Bank of America (BofA), has been steadily selling its stake in the bank. This strategic move, totaling over $3.8 billion in sales, has raised eyebrows and sparked speculation about the future of BofA.
Buffett's decision to reduce Berkshire's holdings in BofA is a departure from his typical investment strategy, which often involves long-term, unwavering commitments. This shift raises questions about his perception of the bank's prospects and the broader financial landscape.
The implications of this move extend beyond Berkshire and BofA. As one of the most closely watched investors in the world, Buffett's actions can influence market sentiment and investor behavior. His decision to sell BofA shares could signal a potential shift in his outlook on the banking sector or broader economic conditions.
To learn more about the reasons behind Buffett's decision, the potential impact on Bank of America, and the broader implications for the financial sector, please visit our website.
4 Political Tensions Fueling Gold Prices As gold aims to test record high again, let's look at some of the political issues possibly driving the price action.
Iran Tensions Escalate:
The Pentagon has dispatched a guided missile submarine and a carrier strike group, to the Middle East. This move follows Iran's vow of retaliation against Israel after a senior Hamas leader was killed in Tehran last month. With nearly two weeks passing without a retaliation, the atmosphere remains tense.
US Political Landscape:
A recent New York Times/Siena poll places Vice President Kamala Harris, who is on a swing state tour, ahead of former President Donald Trump by four points in key battleground states, including Michigan, Wisconsin, and Pennsylvania. However, with nearly three months left until the election, the race remains fluid. Trump is set to appear in an interview with Elon Musk on the X platform, looking for a shift in momentum.
US Economic Concerns:
Bank of America CEO Brian Moynihan warned that U.S. consumers might become “dispirited” if the Federal Reserve delays interest rate cuts. He emphasized that once consumer sentiment turns negative, recovery becomes challenging. However, Moynihan acknowledged that Bank of America no longer anticipates a recession.
Ukraine’s Military Advance:
Ukraine’s top military commander reported control over 1,000 square kilometers of Russia’s neighboring Kursk region, with Russia evacuating over 76,000 residents from western Kursk. Russia is now evacuating residents from a second border region as Ukraine's surprise week-long offensive within Russian territory intensifies.
BAC | SHORTNYSE:BAC
Technical Analysis of Bank of America Corporation (BAC)
Key Observations:
Current Price Action:
Price: $37.58
Recent Drop: -1.92 (-4.86%)
Support and Resistance Levels:
Immediate Support: $37.18 (Bearish Line)
Further Supports: $36.00 (Target Price 1), $35.22 (Target Price 2), $33.39 (Target Price 3), and $30.98 (Target Price 4)
Resistance: The price recently broke below a support level at around $41.78.
Trendlines:
The price has broken below a key upward trendline, indicating a potential shift from a bullish to a bearish trend.
Relative Strength Index (RSI):
Current RSI: 48.91
The RSI shows a decline, indicating increasing selling pressure but still in a neutral zone.
Target Prices:
Target Price 1: $36.00
This level is the immediate support and a potential first target for any continued downward movement.
Target Price 2: $35.22
If the price breaks below the immediate support, the next target is around $35.22, a previous support level.
Target Price 3: $33.39
Further downside could see the price reaching $33.39, another key support level.
Target Price 4: $30.98
In a more bearish scenario, the price could fall to $30.98, a significant support level.
Summary:
Bank of America Corporation (BAC) has experienced a significant drop, breaking below a key support level and its upward trendline. The next levels to watch are $37.18, $36.00, $35.22, $33.39, and $30.98. The RSI indicates potential for further declines if market conditions remain negative.
BOCA : Strong uptrendBOCA: resistance 44-45
support 40
support 1 37
support 2 34
overall bullish and strong for 44-48-52.
BAC Bank of America Corporation Options Ahead of EarningsIf you haven`t bought AAPL before the previous earnings:
Then analyzing the options chain and the chart patterns of BAC Bank of America Corporation prior to the earnings report this week,
I would consider purchasing the 35usd strike price Calls with
an expiration date of 2024-8-16,
for a premium of approximately $2.82.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
BAC Bank of America Corporation Options Ahead of EarningsIf you haven`t bought the dip on BAC here:
Then analyzing the options chain and the chart patterns of BAC Bank of America Corporation prior to the earnings report this week,
I would consider purchasing the 34usd strike price at the money Calls with
an expiration date of 2024-2-16,
for a premium of approximately $1.54.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Bank of America (BAC) Stock: Breaking Out, Fibonacci DynamicsAnalyzing BAC Stock: Navigating Breakouts and Fibonacci Dynamics
Introduction:
Bank of America Corporation (BAC) has seized investor attention with its recent breakout from a falling wedge pattern on October 27, 2023. As we delve into the details, this analysis aims to provide insights into the stock's recent performance and chart the potential trajectory based on technical indicators.
Breakout from Falling Wedge:
The breakout from the falling wedge pattern marked a significant turning point for BAC stock on October 27, 2023. This event initiated a gradual yet dominant push, propelling the stock towards the 0.5 Fibonacci retracement level from the bottom wick of the lowest candle in the 9-hour timeframe.
Fibonacci Retracement Analysis:
In the weekly chart analysis, BAC is yet to approach the 0.618 Fibonacci retracement zone. This critical zone is anticipated to be a pivotal level, potentially triggering a significant correction towards the falling wedge resistance around $28.90. The Fibonacci dynamics serve as a roadmap, guiding traders through the intricacies of BAC's price movements.
Short-Term Bearish Outlook:
For the short term, a bearish stance is maintained as we anticipate the completion of a double top pattern. This pattern suggests a potential reversal, aligning with our analysis of the Fibonacci retracement zones. The completion of the double top pattern is considered a crucial phase before the stock advances further, adding a layer of caution to our near-term outlook.
Conclusion:
In conclusion, Bank of America Corporation's recent breakout from the falling wedge pattern has set the stage for an intriguing journey. The Fibonacci retracement analysis reveals key levels, with the 0.618 zone acting as a potential catalyst for a significant correction. As we remain short-term bearish, the completion of the double top pattern becomes a pivotal event, shaping the narrative for BAC stock's future movements. Traders are advised to stay vigilant, closely monitoring these technical indicators to navigate the dynamic landscape of Bank of America Corporation's stock performance.
BAC - Good reversal candidate for 2024
Month price tagging 200EMA with a falling wedge set up. Volume above 28 is needed to confirm the hold and further breakout.
Risk/Reward is good here only for LT passive accounts. Still needs more work for this to work as a good trade.
Flag on daily should atleast test the trendline around 30.
No position yet.
BAC to LONG?BAC long term profit ? A popular stock + Above the average line 150 + Breaking a downtrend line + Year-end rally in the banking sector?
Only an idea and not a recommendation for trading!
BANK OF AMERICA BUY AT 30 SELL BY 34 Earnings coming on January
Christmas rally
buy the Hype
CyberMOnday
BlackFriday
Sell before Earnings !!
CAFE CITY STUDIO 2024
BUY 30
SELL 32 - 33- 34 MAX
SL 24
High Risk !! NYSE:BAC
BANK OF AMERICA One last low and off to a great 2024?The Bank of America Corporation (BAC) got rejected again on its 1W MA50 (blue trend-line), a level that has been acting as a Resistance since the March 2022 break-down. This has created a Lower Highs trend-line that is the key pivot level now. But before that, let's see how it's been trading on a +10 year basis.
As you see on this chart, ever since the November 2011 Low, the stock has been trading within a Fibonacci Channel, with the extensions serving as very accurate Resistance and Support levels. We have seen 1W MA50 rejections after strong corrections in April 2016 and June 2020. Each of those times, the price hit the Buy Zone (green) before rebounding to a Higher High, while the RSI on the 1M time-frame hit the 38.80 Support. The 1M MA200 (red trend-line), which has been the multi-decade Support since the late 1980s and only broke during the 2009 Housing Crisis, is exactly at the bottom (0.0) of the Fibonacci Channel and will serve as the last Support standing between a recovery and possible oblivion.
As a result, BAC is within the Buy Zone that makes it a 4 year buy opportunity, with the most optimal level being just lower, ideally when the 1M RSI hits the 38.80 Support and rebounds. However it will only get confirmed when it closes a 1W candle above the Lower Highs trend-line. As far as a long-term target is concerned, the first Higher High on the Fibonacci scale was made on Fib 2.0 (March 2014), the second on Fib 4.0 (March 2018) and the third on Fib 6.0 (January 2022). Investors could hold, based on this sequence, until the 8.0 Fibonacci extension but on a lesser long-term horizon, we aim at $44.00.
It is interesting to point out that while each Cycle within this Channel has approximately been 4 years and each of the rallies around 2 years, like the one we're expecting now. The Sine Waves are the perfect tool to display that.
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The Banking Crisis and the Bank of America CorporationIntroduction
The Bank of America Corporation is one of the most famous of Warren Buffets holdings. It is right behind Berkshire’s Apple holdings in size and it has only grown during the recent banking turmoil. This is while he is “dumping” other banks because of red flags in their financials. That is beginning to look like a bad decision based on the technical of BAC.
Source:
markets.businessinsider.com
The United States and the world appears to be facing a very serious financial crisis and we are in the stages where equities are still slow moving. The real impulse will begin when a lower timeframe rally is shorted and the news gets apocalyptic. BAC is ultimately on the chopping block.
Analysis
This is a pared down version of my momentum charts where I try to get the most out of a trend by riding the impulse. As such I don’t have a trade on because price has not slipped the 200 yet. If you want a full breakdown it is in the linked idea on Matic and Solana. Now, due to how fast bank failures can happen I might miss this trade being to patient.
The MACD and Signal are below zero on the mothy. That is bad in itself. Price has slipped the 50 month, that is also bad in itself. Both of these things have occurred as BAC is dropped out of a falling wedge. Also very bad. BAC has also set a lower high from the high before the 2008 financial crisis. That is catastrophically bad because it sets BAC either a W bottom or an ABC correction. The W is shown on the main chart and the ABC correction is shown below.
The wider view
A banking crisis is the apparent reason bitcoin was created in the first place. It also lead to a pump in silver and gold once there was a “paper” decline in price. I remember reading the news stories from the 08 crash were people were selling their precious metals for wide margins on eBay and other platforms while the exchanges were selling silver derivatives for cheaper and cheaper.. As such, another banking system crisis should see the anti-fiats begin to pump once the thrash has happened. I would expect a massive risk off situation but somehow bitcoin and other cryptos look bullish. If is a very schizophrenic time to being doing TA. It is also a crazy time to trade. I don’t know if I will be engaging in capital destruction because of bad trade or just because my exchange collapses.
Most likely I will buy the dip in paper silver and ride the gains up. Dark times with a silver lining.
Bank of America is Shaping Up to Be Just Like PacWestWhen comparing the price action between BAC and PACW, it can be seen that both stocks exhibit the same price action, which is a Rising and Broadening Structure leading into the PCZ of a Bearish Alt-Bat, which all eventually came to a halt upon getting Bearish PPO Confirmation. This led to a breaking of the 21-Month SMA before ultimately flushing down to all-time lows after months of treating the 21-Month SMA levels as resistance.
The same price action can be seen on Bank of America; it is just 1 step behind PACW at this point in time, which is the flipping of the 21-SMA into resistance. The next step would be for it to crash below the 2009 lows.
BANK OF AMERICA is about to start the new 2 year rally.The Bank of America Corporation (BAC) got rejected again on its 1W MA50 (blue trend-line), a level that has been acting as a Resistance since the March 2022 break-down. This has created a Lower Highs trend-line that is the key pivot level now. But before that, let's see how it's been trading on a +10 year basis.
As you see on this chart, ever since the November 2011 Low, the stock has been trading within a Fibonacci Channel, with the extensions serving as very accurate Resistance and Support levels. We have seen 1W MA50 rejections after strong corrections in April 2016 and June 2020. Each of those times, the price hit the Buy Zone (green) before rebounding to a Higher High, while the RSI on the 1M time-frame hit the 38.80 Support. The 1M MA100 (red trend-line), which on March 2020 provided Support, acted once more as the long-term Support this March (2023), exactly at the top of the 10 year Buy Zone.
As a result, BAC is a buy opportunity, but will only get confirmed when it closes a 1W candle above the Lower Highs trend-line. As far as a long-term target is concerned, the first Higher High on the Fibonacci scale was made on Fib 2.0 (March 2014), the second on Fib 4.0 (March 2018) and the third on Fib 6.0 (January 2022). Investors could hold, based on this sequence, until the 8.0 Fibonacci extension.
It is interesting to point out that each Cycle within this Channel has approximately been 4 years and each of the rallies around 2 years, like the one we're currently about to confirm.
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TSM, BAC and AUDCHF trading ideasUnfortunatley I have missed TSM trade but missing trades is part of the game. Also we have good entries on AUDCHF and BAC
BAC Bank of America Corporation Options Ahead of EarningsIf you haven`t bought BAC here:
Then analyzing the options chain of BAC Bank of America Corporation prior to the earnings report this week,
I would consider purchasing the 30usd strike price Calls with
an expiration date of 2023-9-15,
for a premium of approximately $0.83.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
Bank of America, showing strength and growth...BANK OF AMERICA (BAC) is showing signs of net buying / accumulation at the current levels -- conveying anticipation of the April 18 earnings results. The last December 2022 results beat expectations -- and it looks like the confidence will be the same for this season.
SEEDED L at 27.5
TAYOR.
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Here are some fundamental data last quarter 2022:
DECEMBER 2022 (DATA)
EPS (USD)
Expected
0.77
Reported
0.85
Surprise
10.71%
Revenue (USD)
Expected
24.22B
Reported
24.53B
Surprise
1.28%
Next move of BACAs you can see in the chart NYSE:BAC Had started A massive uptrend in the last 11 years that It's almost over by my point of view.
Sl of this Analyze is 35$. In the second blue zone we can risk free our position by your own Strategy.
