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Bankofamerica

BAC riding Impulse Wave 3 of Elliott wave right into resistance!BAC looks to be riding Wave 3 Impulse with Extension right into strong Resistance. Could be a perfect spot for some consolidation into wave 4 before wave 5 looks to test the resistance. Conversely we could see a push through the resistance and then wave 4 will form and bounce off of the new support. Looking at wave 3 being an extension wave it is at it's 5th point and seems to me that any at this point would lead to wave 4. - RSI is overbought on 4 hour chart (71) BUT only at 63 on the daily chart SO we could see a blow through of the resistance due to it still having room to move on the daily chart - looking at the previous may-june wave setup it seems to be doing the same setup, wave 3 tests the resistance and then wave 5 blows through it opposite: oversold and strong resistance could lead to breaking of the waves and bearish move Lets see what happens. Happy to hear any critique/ideas on my setups or ideas, thanks!
NYSE:BACLong
by DOpeTrades
1
Bank of America (BoA) / Short Term AnalysisWith the index that started to rise after the abundant money support given to the markets after the pandemic, we saw that this stock's price could rise to the level of fib 0.618. After this situation, the price seems to be between the rising trendline and the fib 0.382 level for now. If this continues and acts as a rising triangle pattern, the price may reach the tested fib 0.618 level in August or October. Only personal opinions and ideas. Does not include "Legal Investment Advice"...
NYSE:BACLong
by EmoteK
Rising Wedge - Bearish outlookLooks like we're forming a rising wedge on this chart, with a possible 5th wave in the process. There's 3 options I see to short depending on risk tolerance. 1. if 5th wave if truncated, Short on rejection 2. IF 5th waves at major resistance Short. 3. Short on completion of Wedge + break of wedge support. BAC hasn't enjoyed the same V shaped rallies other stocks have. Bullish sentiment is expected to be relatively low given an expectancy in rising debt defaults, related obviously to the rising unemployment rates (now at 26mil+) and businesses that aren't able to generate incomes to cover their liabilities, creating something of a domino effect across the board.
NYSE:BACShort
by ChasingTheMoon