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Bank of America Corp.BB

Bank of America Corp.

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BAC Trend Break UpdateI've been watching this one for a while now, so here's an update. So far BAC has been trending up since its major trend break, but I consider this uptrend to be secondary to the primary trend that was broken. I still like the short until it reclaims or breaks above the previous swing high around $44.45. You could short in this area or use the trendline for an entry. For downside targets, we have a shorter term trendline below and then the previous swing low around $35.14. If that breaks, final target will be 2023 lows around $25.
NYSE:BACShort
by AdvancedPlays
Why you need to have rules in your trading careerHello, The importance of rules cannot be underestimated in any business. This must not be different in trading/investing since it must be viewed at all times as a business. Below are my rules as a wave trader. Wave trading is a trading strategy that combines technical analysis with Elliott Wave Theory to identify and predict future market movements. This approach involves analyzing market price patterns to understand the cyclical nature of market trends and capitalize on these patterns for trading opportunities. Below is an example of how markets move in waves Rules are very important (Our trading rules) Identify Impulse & Correction The first step in trading is to identify the impulse and correction phases in the market. An impulse phase is characterized by strong, directional price movement, indicating a clear trend. Corrections, on the other hand, are smaller, counter-trend movements that typically follow an impulse. By recognizing these phases, you can better understand the market's structure and prepare for potential trading opportunities. Below is an example of impulses & corrections identified Identify the Pattern Formations Once you have identified the impulse and correction, the next step is to look for specific pattern formations. These patterns, such as head and shoulders, double tops, or triangles, provide clues about future price movements. Understanding and recognizing these formations can significantly enhance your ability to predict market direction and make informed trading decisions. Below are patterns identified that can be tradeable Most of these patterns can nowadays be identified for you using Tradingview under indicators, metrics & strategies. Identify Entry Points After identifying the patterns, the next crucial step is to pinpoint entry points. This involves determining the optimal moment to enter a trade based on your analysis of the market. Entry points should be chosen carefully to maximize potential gains while minimizing risk. Look for confirmations, such as breakouts from patterns or specific technical indicators, to ensure a higher probability of success. Below is an example with a risk free entry We shall be looking in another post on different types of entries. Look for Targets Setting targets is essential for effective trading. Targets help you establish your profit goals for each trade and ensure that you remain disciplined in your approach. These targets can be based on various factors, such as previous support and resistance levels, Fibonacci extensions, or measured moves from the identified patterns. Clear targets allow you to exit trades strategically and lock in profits. Below is our clear target for the entry we made with a clear stop loss as well Look for Exits in Case the Trade Doesn't Go Your Way Not all trades will go as planned, so it's vital to have exit strategies in place for unfavorable scenarios. This involves setting stop-loss levels to limit potential losses and protect your capital. By defining these exits beforehand, you can remove emotional decision-making from your trading process and adhere to a systematic approach, ensuring long-term success and sustainability in your trading business. I trust that these rules can help you in your trading journey. You can think of having them written somewhere. That way you can look at them & follow them for each trade you make. All the best
NEducation
by thesharkke
10
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.
NLong
by DEXWireNews
BAC Major Trend Break + Bear FlagBAC recently broke below its major uptrend from the 2023 low. It's been consolidating below and forming a a bear flag. On top of bad technicals, Buffet is unloading his stake like there is no tomorrow. The balance sheet looks horrible as well. These are not reasons to buy short dated puts. This is one you'll want to let play out over time. Either way, if it does break below this bear flag we should see continuation down to the prior swing low around 35. Next target after that would be the flag pole target and 2021 lows which is also a psychological number around 30. That would be a huge drop if it gets there, it would take some time most likely. If it can't hold there, final long term target is going to be the 2023 low around 25 for me. My targets turned out to be about every 5 dollars down, interesting and that makes it it pretty easy to follow as well.
NShort
by AdvancedPlays
6
$BAC: take profits at $43, with greater long-term gains possible Bank of America Corp. is a bank and financial holding company, which engages in the provision of banking and nonbank financial services. It operates through the following segments: Consumer Banking, Global Wealth and Investment Management (GWIM), Global Banking, Global Markets, and All Other. The Consumer Banking segment offers credit, banking, and investment products and services to consumers and small businesses. The GWIM segment offers solutions to meet clients’ needs through a full set of investment management, brokerage, banking, and retirement products. The Global Banking segment deals with lending-related products and services, integrated working capital management and treasury solutions to clients, and underwriting and advisory services. The Global Markets segment includes sales and trading services, as well as research, to institutional clients across fixed-income, credit, currency, commodity, and equity businesses. The All Other segment consists of asset and liability management activities, equity investments, non-core mortgage loans and servicing activities, the net impact of periodic revisions to the mortgage servicing rights (MSR) valuation model for both core and non-core MSRs, other liquidating businesses, residual expense allocations and other.
NLong
by KhanhC.Hoang
Can Bank of America Break Out?Bank of America fell sharply over the summer as Warren Buffett sold shares. But now some traders may think the lender has stabilized. The first pattern today’s chart is the rally between early August and early September. BAC retraced half the move before returning to the upside. That may suggest that buyers are in charge. Second, the bounce occurred at the 200-day simple moving average (SMA). The 50-day SMA is also above the 100-day SMA and both are higher than the 200-day SMA. That order, with the faster SMAs above the slower, may be consistent with a longer-term uptrend. Third is the September 4 high of $40.95. The stock pushed above this level on Thursday before slipping back below it. Will traders view it as a trigger for a breakout? Finally, our 2 MA Ratio custom script shows that the 8-day exponential moving average (EMA) has crossed above the 21-day EMA. That may reflect increased bullishness in the short term. TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. See our Overview for more. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at www.TradeStation.com . Before trading any asset class, customers must read the relevant risk disclosure statements on www.TradeStation.com . System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors. Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges. TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit www.TradeStation.com for further important information explaining what this means.
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by TradeStation
1
Bank of America investment.What I know is that I always see right direction n I don't fold n try to goo against clear trend cz I feels like is to high or low I make sure I follow the right directions by right time,before you start drawing graphs I identify the trend,then goo to drawing board n make sure you don't fold you are following the right trend n understanding it's pull back,if you gonna use this,it's going to change your trading career forever n less looses,even a single day don't trade against the trend find it follow.
NLong
by mulaudzimpho
BAC Short Idea - Top 5 Weekly Trade Ideas #1I don't normally care about what insiders or large funds do because you can never know the motive of that person. However, Warren Buffet has been dumping his stake in BAC lately. He had a very large stake, so it appears he is expecting BAC to see some downside, or he simply wants the cash for something else. I wouldn't want to be longing something Buffet is dumping like this, but he usually has a much longer time horizon than most so I wouldn't expect it to work right away. Buffet has been indicating for several months that he prefers cash over equities right now, something to consider. That being said, we can use TA on top of everything else to optimize risk/reward. The chart is bearish, it recently broke below a major uptrend from 2023. It's had a nice recovery, but is nearing a retest now. I'll look for puts if it retests the trendline, I'd expect it to reject and eventually break the recent lows as well. It's not super short term idea, but I do think there's a good chance of some short term downside soon. I think this is a trade you can buy lots of time on and just relax. I'd expect a stable decline in the future unless it reclaims that major trendline from 2023.
NShort
by AdvancedPlays
Is Bank of America's future gloomy amid Warren Buffet sale? Join me as I dive into Warren Buffett's massive sale and see if it really spells trouble for Bank of America! Warren Buffett is without a doubt one of the most celebrated investors of our time. With a track record that spans over five decades, his investment decisions are closely watched by the financial community, and for good reason. Berkshire Hathaway, his multinational conglomerate holding company, has consistently beaten the market, making him one of the most successful investors in history. Warren Buffett's recent sale of a significant portion of his Bank of America stake has sent shockwaves through the financial community. The concerns are obvious - what does this mean for Bank of America's future, and more importantly, what does this mean for its investors? Is Buffett's sale a vote of no confidence in the bank's ability to navigate the current economic landscape, or is there something more at play? As we dive deeper into the details, it's clear that Buffett's sale raises more questions than answers. The sale itself is significant, with Buffett offloading a sizable chunk of his stake in the bank. This is no small move, especially considering his long-standing history with the bank. The question on everyone's mind is what triggered this sudden sale, and what does it mean for the future of Bank of America? The possible implications are far-reaching, and it's essential to consider all the factors that may have contributed to Buffett's decision. One possibility is that Buffett is taking a more cautious approach due to the current economic uncertainty. With interest rates on the rise and global economic growth slowing, it's possible that Buffett is sensing a shift in the market and is taking steps to protect his investments. Additionally, the ongoing COVID-19 pandemic has created a level of uncertainty that may be causing Buffett to reassess his investment strategy. Another possible reason for the sale could be related to Bank of America's performance leading up to the sale. While the bank has made significant progress in recent years, its stock price has struggled to gain traction. Perhaps Buffett is simply looking to rebalance his portfolio and allocate his resources to more promising investments. It's also possible that Buffett's sale is a sign of a broader shift in investor sentiment. With valuations at historic highs and concerns about a possible market correction growing, perhaps Buffett is merely taking a more defensive stance. After all, it's not uncommon for investors to take profits off the table when the market is at an all-time high. The critical insight from Buffett's sale is that it may signal a shift in investor sentiment, not just for Bank of America, but for the banking sector as a whole. If Buffett, one of the most astute investors in the world, is taking a more cautious approach, it may be wise for others to take notice. It's also possible that this sale is a harbinger of a broader market correction, which could have far-reaching implications for investors and the economy as a whole. In conclusion, Warren Buffett's sale of his Bank of America stake raises more questions than answers. While we may never know the exact reasoning behind his decision, one thing is clear - it's a significant move that warrants attention. As we move forward, it's essential to keep a close eye on Bank of America's performance and the broader market trends. What do you think about Buffett's sale? Do you think it's a sign of trouble for Bank of America, or just a smart investment move? Let me know in the comments below, and be sure to LIKE, SHARE and most importantly SUBSCRIBE to this channel, while also not forgetting to check out my other videos on Cryptocurrencies and Stocks for more financial insights! Entry price - buy at current price. Exit - sell between $132 - 145. Profit target - 250%
NLong
by Pan_empp
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.
NShort
by MorMedia
2
BANK OF AMERICA Stock Chart Fibonacci Analysis 080424Trading Idea 1) Find a FIBO slingshot 2) Check FIBO 61.80% level 3) Entry Point > 37.5/61.80% Chart time frame : C A) 15 min(1W-3M) B) 1 hr(3M-6M) C) 4 hr(6M-1year) D) 1 day(1-3years) Stock progress : C A) Keep rising over 61.80% resistance B) 61.80% resistance C) Hit the Support 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.
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by fibonacci6180
BANK OF AMERICA - Increased Probability of AppreciationBAC has the support of Fiboclouds for appreciation within the H4 timeframe, being sufficient to reach the first target and attempt the second, provided the stop loss is properly repositioned at the time of the first partial realization. If this projection is confirmed and a partial realization occurs at the first target, the stop loss should be moved from its initial position to the same line where the position was opened. This way, the journey towards the final target will proceed with reduced risk of losses and the preservation of the partial gains achieved so far. Follow us to receive notifications of new trades as well as frequent updates on ongoing trades. Finally, if you agree with the idea or found it useful, please give it a BOOST so that it can reach a larger number of people! Thank you!
NLong
by EthosInvest
Bank of America Resistance Breakout At $40.47 16.07.2024- Bank of America breaks resistance in ascending triangle pattern on 4HR Chart at $40.47 - Potential upside target at $44.68; further breakout could target $50.03. - Failure to sustain breakout may lead to downside support at $37.16; break below could target $34.57. Apply risk management Risk Warning: Trading in CFDs is highly speculative and carries a high level of risk. It is possible to lose all of your invested capital. These products may not be suitable for everyone, and you should ensure that you fully understand the risks taking into consideration your investment objectives, level of experience, personal circumstances as well as personal resources. Speculate only with funds that you can afford to lose. Seek independent advice if necessary. Please refer to our Risk Disclosure. BDSwiss is a trading name of BDS Markets and BDS Ltd. BDS Markets is a company incorporated under the laws of the Republic of Mauritius and is authorized and regulated by the Financial Services Commission of Mauritius ( FSC ) under license number C116016172, address: 6th Floor, Tower 1, Nexteracom Building 72201 Ebene. BDS Ltd is authorized and regulated by the Financial Services Authority Seychelles (FSA) under license number SD047, address: Suite 3, Global Village, Jivan’s Complex, Mont Fleuri, Mahe, Seychelles. Payment transactions are managed by BDS Markets (Registration number: 143350) Disclaimer
NLong
by Stuart_Cowell
$BAC #RisingWedge #CanaryInTheCoalMineTechnical Wedge pretty clean, not perfect, 7/10 lol. Triple top on the Eyes adds to to setup a bit...Will be looking at NASDAQ:AAPL NYSE:BAC Monday 7.1.24 morning for support bounces or breakdowns (could be nice day trades either way) Bank of America = 2024 Lehman , mentioned this when the pattern was first building and it actually fake broke down then John "Wicked" back into pattern! Digital Banking and the eventually passing of their bread n butter ie; dumb boomers that can't convert to pdfs LMFAO!, this bank is a DINOSAUR in today's finance landscape. They offer outdated products, poopy rates, poopy services, branches closing heavily since 2020. They even know it's coming. "Erica" is their hail mary, but all the "next gen" clients seem to have chosen newer banks with better interest rates on savings, invest opps, and easier tech accessibility. They also have tons of TERRIBLE COMMERCIAL REAL ESTATE which has silently crashed reality still waiting to hit... I am waiting for the headlines to confirm thesis and buy puts... But on Radar...
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by Prophecies_R_Us