BAC trade ideas
Bank of America - Failed 3rd Wave - Strong SellBAC is a STRONG SELL
BAC had a failed 3rd Wave like MS
Will update.
-AB
Bank Of America: 2008 All Over AgainRising wedge has formed on BAC. The same pattern it had formed from 1996-2008.
BAC is testing its bottom trend line. This could get ugly fast.
Fed cuts rates the most since 2008 to promote more artificial economic growth. It definitely helps the fact people are scared of a virus.
This was just the pin that popped the bubble. They will blame it on the virus if markets tank.
People seem to forget Bitcoin was created exactly after our last financial crisis. For the reason, we don't trust our banks. BTC has risen in value of more than 2 million percent!! It's got to be on to something.
Comment and like!
Bank of Amerika goes in a short zoneNYSE:BAC
Against the backdrop of the general hysteria about the coronovirus, BoA have fallen rapidly over the last two days.
Moreover, price broke a strong weekly support level. The shorts model is strengthened by the fact that the price updated the low of long-distance retest, which is usually impossible in the normal market conditions. As a result, the stock is being openly sold.
I also pay attention to the fact that yesterday closed almost under the low, the hourly and five-minute chart shows the same signal for further fall.
If the fall continues today and they go below the daily level, there will be nothing to stop the price in short zone.
No matter whether you take my ideas into account or not, you should trade only at your own risk-on-trade and from your own MM-strategy.
And don't forget to use SL-orders especially now, in a falling market..
BAC - Double Top ShortBank of America had a double top and it could break below its current support level of 32.39.
Price above 100 and testing previous supportPrice above 100 and testing previous support, good to go long if prce closes above support at 34.08
BAC up coming!BAC have up coming EX-dividend on 03/05/2020 it's good to watch and put in short run around 35.20-35.30.
Prediction for 2/14- 2/28Predicting we break to the upside to try and stick the landing above $35.50 tomorrow after testing the downside on 2/13. Lot of volume on 2/21 $36 calls, smart money knows something. Banks have been lagging and are due for some relief. I like $BAC to start a real run over the next two weeks, hitting as high as $37.50 by 2/28.
BACHere my Analysis to BAC. possible ABC-correction in the 30 minutes Chart. (all Information in the Chart)
Just my opinion no financial advice.**
Elliott Wave View: BAC Approaching Short Term Support Short term Elliott wave view in Bank of America (ticker: BAC) suggests the rally from January 27, 2020 low is unfolding as a 5 waves impulse Elliott Wave structure. Up from January 27 low, wave ((i)) ended at 33.49 and pullback in wave ((ii)) ended at 32.65. The stock has resumed higher in wave ((iii)) which ended at 35.45. Internal of wave ((iii)) subdivided in 5 waves impulse in lesser degree. Up from 32.65, wave (i) ended at 33.40, and wave (ii) pullback ended at 32.92. Stock then resumed higher in wave (iii) towards at 35.01. Wave (iv) pullback ended at 34.24 and the final leg wave (v) of ((iii)) ended at 35.45.
Wave ((iv)) pullback is in progress to correct cycle from January 30 low before the stock resumes higher in wave ((v)). The pullback is unfolding as a zigzag structure where wave (a) ended at 34.78 and wave (b) ended at 34.97. Potential area to end wave (c) of ((iv)) is 100% – 123.6% Fibonacci extension from February 12 high which comes at 33.9 – 34.3. From this area, BAC can then extend higher or at least bounce in 3 waves.
BAC LONG TERM HOLDAfter a nice push to the upside, its time to see a retest all the way to the $28 level in my opinion. We have earnings coming in April so this could perhaps be a good set up.
Entry: $28
TP: $35
SL: $27.50
BAC Ascending Wedge and Repeating PatternAscending Wedge pattern, usually proceeds in waves of three, this is a bearish reversal pattern. It can also be seen that a repeating pattern of a drop followed by a lower high can be present in three different situations, including the 2008 stock market drop, will it repeat itself again? Probably.
