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BANK OF AMERICA CORPORATION

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BAC trade ideas

BAC at an inflection pointGreen lines - rising wedge pattern Yellow lines - Recent bearchannel /Possible flag White line - Resistance turned Support area Bearish Rising wedge is obvious here. There's room for one more trip up should BAC breakout of that bearchannel with a possible bullish target of 50$. Should BAC lose the wedge support and drop below 43.40 we could possible drop down to 32-35$ which would represent a 25% correction. If it loses support this week or rallies up ome more time , BAC is heading for a correction into the Spring 2022
NYSE:BAC
by ContraryTrader
Integrity is Important!Please review the analysis published on November 4th, 2021: Title: Negative days ahead for banks! You can see the most important support (green lines) and resistance (red lines) to watch in the coming days in these charts! Best, Moshkelgosha DISCLAIMER I’m not a certified financial planner/advisor, a certified financial analyst, an economist, a CPA, an accountant, or a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
NYSE:BACShort
by Moshkelgosha
2
Negative days ahead for banks!It seems Banks have run out of steam and in the near future, they will make a correction or go sideways! BAC: Fails to close above 48.50 WFC: Got rejected from resistance level and may retest 46 in the coming days C: struggling at the support line MS: pure consolidation between 96-106 JPM: 2-3% correction is expected! GS: could retest 370 level once again! You can see the most important support (green lines) and resistance (red lines) to watch in the coming days in these charts! Best, Moshkelgosha DISCLAIMER I’m not a certified financial planner/a certified financial analyst, an economist, a CPA, an accountant, or a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
NYSE:BACShort
by Moshkelgosha
3
Bank of America Corp to Lose Ground. BACOverbought, just coming out, and now divergent. I am waiting on a sizeable drop. It is unclear whether this is going to be a Wave 2 or B, but it does not matter as both scenarios are implicitly bearish. Very short term outlook, as the view is based on an hourly chart. 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 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
Bank of AmericaLooks like we are at a higher high on the weekly and daily timeframes. Bank of America is a nice safe stock in my eyes. Although we are in a season where alot of shopping will go on, I can see this being bullish for banks and other holiday related tickers. Bank of America holds a high position in many prominent portfolios including my Uncle Buffet's. I want to see if price can continue trading above the 20 and 50 ema. Say if there is a pullback i'd at least feel that a 38% is realistic on the daily timeframe. If it surprisingly pasts that support level, price could reach the support that was created back in July of this year. Let's see what happens. Alot of credit cards will be swiped this season and for swipe a BAC customer pays, BAC will charge a surcharge to the business for every transaction that is made. Looking forward to a nice but slow ride. Good luck!
NYSE:BACLong
by Redimere_91
1
Bank of America: Old Highs in Play?Bank of America is jumping to new 14-year highs after a strong quarterly report. This raises an important question: Will the megabank now return to its previous all-time highs from before the subprime crisis? BAC peaked at $55.08 in November 2006. It inched lower over most of the following year, before the selling cascade hit. Prices hit a nadir of $2.53 in February 2009. They’ve gradually staggered higher since. A key moment occurred in March 2020, when BAC held the 2014 and 2015 high of $18. Since then it’s been a steady recovery. The stock was back over $40 by June. BAC then started a consolidation phase with a low above $38 in mid-June. There was a dip toward $36.50 in July and another stab toward $38 last month. The result was an inverse head and shoulders / high basing pattern. BAC flew back from those lows along with the SPDR Financial ETF (also forming an outside week). It made a new 52-week high before easing back to test the August peak of $42.84. Then came a strong earnings report, with healthy loan growth, and BAC was hitting new highs above $45. (It also formed another outside week.) The stock continues on that trajectory today, with no clear resistance on the chart. Given the steepening yield curve and ongoing economic recovery, BAC may continue its move. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
NYSE:BACLong
by TradeStation
1