Bank - Long - TP 32Bank of America has been falling since Feb 2022.
Its going for the support zone.We might get some support in the regions of 26 and 23.
Do not consider for long term investments take profits at 32 max at 37.
BAC trade ideas
Bank of America Priced in SilverYes, #Silver is getting STRETCHED, begging for a consolidation.
However, this has permitted it to outperform #BankofAmerica, carving out a possible MASSIVE topping structure.
In fact, we are on the brink of a PARADIGM SHIFT breakdown in favor of the #PreciousMetals.
OH BOY!
Bank of America (BAC) Near Support AreaElliott Wave Structure in Bank of America (BAC) shows incomplete bullish sequence from 10.27.2023 low favoring further upside. Short Term, rally from 1.17.2024 low is unfolding as a 5 waves impulse Elliott Wave structure. Up from there, wave (1) ended at 35.1 and dips in wave (2) ended at 32.35. The stock extends higher again in wave (3). Up from wave (2), wave 1 ended at 36.45 and pullback in wave 2 ended at 35.24. The stock extended higher again in wave 3 towards 37.64 and pullback in wave 4 ended at 36.8. Final leg wave 5 ended at 38.35 which completed wave (3).
The stock is now pulling back in wave (4) with internal subdivision as a zigzag structure. Down from wave (3), wave A ended at 37 and rally in wave B ended at 38.02. Wave C lower is in progress and can see further downside as a 5 waves. Down from wave B, wave ((i)) ended at 37.25 and wave ((ii)) ended at 37.96. Wave C target can reach 100% – 161.8% Fibonacci extension of wave A. This area comes at 35.85 -36.68. From this area, the stock can see buyers for further upside or 3 waves rally at least.
Bank of America (BAC) Near Support AreaElliott Wave Structure in Bank of America (BAC) shows incomplete bullish sequence from 10.27.2023 low favoring further upside. Short Term, rally from 1.17.2024 low is unfolding as a 5 waves impulse Elliott Wave structure. Up from there, wave (1) ended at 35.1 and dips in wave (2) ended at 32.35. The stock extends higher again in wave (3). Up from wave (2), wave 1 ended at 36.45 and pullback in wave 2 ended at 35.24. The stock extended higher again in wave 3 towards 37.64 and pullback in wave 4 ended at 36.8. Final leg wave 5 ended at 38.35 which completed wave (3).
The stock is now pulling back in wave (4) with internal subdivision as a zigzag structure. Down from wave (3), wave A ended at 37 and rally in wave B ended at 38.02. Wave C lower is in progress and can see further downside as 5 waves. Down from wave B, wave ((i)) ended at 37.25 and wave ((ii)) ended at 37.96. Wave C target can reach 100% – 161.8% Fibonacci extension of wave A. This area comes at 35.85 -36.68. From this area, the stock can see buyers for further upside, or 3 waves rally at least.
$BAC INV Head and Shoulders w/ Rate cuts approachingNYSE:BAC smaller Inv head and shoulders that has broken to upside, appear to be playing into a bigger INV head and shoulders pattern. With rate cuts approaching, this stock can see huge gains as the outlook become more satisfactory. Excellent buy opportunity.
Invstement Opportunity Bank of AmericaMontly Demand Zone hold the price give a good reaction
We can observe the an external liquidity was taken in weekly timeframe
We dan also observe that the structure was shifted in Weekly timeframe
I'm expecting to price to pull back around 33 to invest as I'm expecting the price to be bullish
Downside risk 20%
Upside gain 80% & more
BAC setting up to thrive from rate - cuts LONGBAC is showed here on a 100R(ange) where price action from the Covid lows to the federal
stimulus highs to the fade and consolidation of Summer 2022 to Summer 2023 and another
fade and reversal from it are seen on the chart. At presen, BAC has reversed upside. With
Uncles Powell and Sam announcing likely three rate cuts in 24Q3 and 24Q4, I see banks
including BAC getting a break with more loan originations and less pressure for high payouts
on savings accounts which may be the capital sources of those loans. I see this a an opportunity
here and now to take long positions before those hypothetical cuts get baked into the price.
The same may go for WFC, JPM, GS and others. My first target is 44 at the " neckline" of
the 3,4Q21 triple top.
"BOA Stock: Selling Zone vs. Horizontal Movement""Bank of America Stock: A Situation where the Selling Zone and the Horizontal Upward Movement are Constrained. If the Blue Line Drops Below and Daily Closures Follow, the First Target Could Be the Green Horizontal Line. If Unable to Sustain at This Level, a Descent Towards Closing the Gaps and the Lower Base of the Descending Regression Channel Might Occur. On the other hand, in the case of an Upward Breakout with Daily Closures above the Selling Zone, I've Marked the Potential Areas Sequentially with the Red Line."
WARNING: THIS ANALYSIS IS NOT INVESTMENT ADVICE. CONSIDER YOUR RISK TOLERANCE AND FINANCIAL SITUATION BEFORE MAKING DECISIONS. FUTURE PERFORMANCE IS NOT GUARANTEED; THIS IS MERELY AN OPINION. INVEST PRUDENTLY AND CONDUCT THOROUGH RESEARCH.
Bank of America- Still America's Bank?Bank of America....
On one hand their CEO has done a great job bringing them out the depths of the financial crisis
On the other hand excess exposure to Mortgage Back Securities (MBS), Commercial Real Estate and the risk bomb that is all things Merrill leaves them vulnerable to economic shocks
A sticky deposit book helps...but not enough.
Will America choose another bank?
We will find out together!
BAC is ready for major dropBAC is in a rising wedge, a bearish pattern, and it's ready to break down. If and when it crosses the blue dotted trend line, it will trigger that pattern and cause a major drop in price.
The RSI and MACD show strong bearish divergences, with the MACD already ticking into the red position.
If we close in the red today, it will be confirmed.
The bulls' last hope is to buy it out and return the price to the pattern
BANK OF AMERICA Stock Chart Fibonacci Analysis 020524 Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 32.6/61.80%
Chart time frame : D
A) 15 min(1W-3M)
B) 1 hr(3M-6M)
C) 4 hr(6M-1year)
D) 1 day(1-3years)
Stock progress : A
A) Keep rising over 61.80% resistance
B) 61.80% resistance
C) Hit the bottom
D) Hit the top
Stocks rise as they rise from support and fall from resistance. Our goal is to find a low support point and enter. It can be referred to as buying at the pullback point. The pullback point can be found with a Fibonacci extension of 61.80%. This is a step to find entry level. 1) Find a triangle (Fibonacci Speed Fan Line) that connects the high (resistance) and low (support) points of the stock in progress, where it is continuously expressed as a Slingshot, 2) and create a Fibonacci extension level for the first rising wave from the start point of slingshot pattern.
When the current price goes over 61.80% level , that can be a good entry point, especially if the SMA 100 and 200 curves are gathered together at 61.80%, it is a very good entry point.
As a great help, tradingview provide these Fibonacci speed fan lines and extension levels with ease. So if you use the Fibonacci fan line, the extension level, and the SMA 100/200 curve well, you can find an entry point for the stock market. At least you have to enter at this low point to avoid trading failure, and if you are skilled at entering this low point, with fibonacci6180 technique, your reading skill to chart will be greatly improved.
If you want to do day trading, please set the time frame to 5 minutes or 15 minutes, and you will see many of the low point of rising stocks.
If want to prefer long term range trading, you can set the time frame to 1 hr or 1 day.
