$BAC taking sell side into 1hr and daily FVG's $XLFWatching BAC here as it triggers these sell orders into FVG's on longer time frames. I'd be aiming to go long if it digs into those grey boxes.
BAC trade ideas
Sorry Mr Buffett but BAC is going down Sorry Mr Buffett but BAC is going down with all the other financials that I looked up.
On February 11th, 2022, Bank of America ( BAC ) completed an impulse wave up that began in December 2011, specifically Intermediate Wave (5) on the graph in light blue.
According to the guideline of corrective waves, whenever a five-wave move is complete, a correction occurs that typically ends near the terminus of the prior 4th wave. As such, we have observed 5 waves down that completed Intermediate Wave (A) and an ABC correction for Wave (B). While there is no confirmation that this correction (B) is finished, it may have ended.
An essential clue to note is that if the correction is finished, it suggests that the minor Waves C of this Intermediate (B) correction have truncated and failed to reach the minor Wave A extreme. This truncation is an indication of strong underlying selling pressure in BAC .
If this correction is a zigzag correction, the most common Fibonacci ratio in a zigzag is equality between Waves A and C. A = C at approximately $17, which is the exact target from the Depth of corrective wave guideline. This point represents the terminus for the Intermediate Wave (4) in the previous impulse wave.
The second target could also be a 0.618 ratio of $24. Based on this technical analysis , it appears that BAC is going down with all the other financials.
From a technical analysis perspective, it is worth noting that the assessment made in the statement is also valid from a macroeconomic standpoint. Increases in the Fed's fund rate have a direct impact on the housing market, leading to a decrease in mortgage demand, and ultimately causing mortgage rates to fall. This, in turn, could adversely impact financial institutions, as it could lead to a decline in revenues. Therefore, it is crucial to consider the macroeconomic factors that influence the stock market and financial institutions, such as changes in the Federal Reserve's policies, as they can have significant consequences on the performance of individual stocks and the market as a whole.
Please note that the analysis is my personal opinion and should not be considered as financial advice. It is important to conduct your own research and seek advice from a financial professional before making any investment decisions.
Bank stocks possibly set to fall.. BAC 2020 lows inboundUsing a few different technical targets here we reach roughly the same outcome... Head and shoulders target on the daily(if the neckline is broken) will take us back down to 2020 low. A bear flag on the daily would also see us down near that low, trade safe trade smart folks.. this is just what I see and not financial advice*
Bank of America Long-TermAll long-term psychological targets and Support/Resistance levels are at fib intersections.
Here are some short/mid term targets:
Forecasts by institutions
Goldman Sachs: 54
Societe Generale: 46
Morgan Stanley: 51
JPMorgan Chase: 52
Citi: 57
Deuche Bank: 51
Atlantic Equities: 55
Oppenheimer & Co: 54
BACBank 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, 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 Global Wealth and Investment Management segment offers solutions to meet client's 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. The company was founded by Amadeo Peter Giannini in 1904 and is headquartered in Charlotte, NC.
BACWith the support of the long moving average SMA 200, the stock is in a declining trend, but with the support of the shorter average SMA 50 and SMA 100, the stock has moved from a falling trend to a more horizontal trend. Trend lines almost clash with a resistance at 38.5 and support at about 30.
Price peaks mostly coincide with volume bottom and this weakens the stock. But OBV has a slight rise on it last. RSI follows price.
Oscillators and Moving Averages stand one day at strong buy and a week to a month at buy.
Consider the stock technically neutral medium-term, but a break up or down relative to the trend will provide a new direction.
Remember you need do your own research and assessment before buying and selling.
Disclaimer: I have a position in the stock.
Sources: Trading View and Yahoo Finance.
Bank of America (BAC) A great potential for the mid-term
Bank of America is one of the largest banks in the United States, with more than 4,000 branches and 16,000 ATMs located across the country.
In 2008-2009, the bank was among the many banks that required a government bailout during the financial crisis.
Despite these controversies, Bank of America remains a major force in the banking industry and continues to be a trusted financial institution for millions of customers.
⛓Technical analysis
We may see a drop of up to 5% in the coming weeks before the recovery that should take place in the first 2 quarters of the year.
Trade safe!
Bank of America (BAC) bullish scenario:The technical figure Triangle can be found in the daily chart in the US company The Bank of America Corporation (BAC). The Bank of America Corporation (often abbreviated BofA or BoA) is an American multinational investment bank and financial services holding company. Bank of America is one of the Big Four banking institutions of the United States. It serves approximately 10.73% of all American bank deposits, in direct competition with JPMorgan Chase, Citigroup, and Wells Fargo. Its primary financial services revolve around commercial banking, wealth management, and investment banking. The Triangle broke through the resistance line on 26/01/2023. If the price holds above this level, you can have a possible bullish price movement with a forecast for the next 12 days towards 36.20 USD. Your stop-loss order, according to experts, should be placed at 36.30 USD if you decide to enter this position.
The bank's net interest income jumped 29% year over year to $14.7 billion in the fourth quarter. Looking ahead, the company estimates that a 1-percentage-point increase in rates would boost its net interest income by an additional $3.8 billion over the next year.
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BAC | A Good Entry Point | BounceBank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. Its Consumer Banking segment offers traditional and money market savings accounts, certificates of deposit and IRAs, noninterest-and interest-bearing checking accounts, and investment accounts and products; and credit and debit cards, residential mortgages, and home equity loans, as well as direct and indirect loans, such as automotive, recreational vehicle, and consumer personal loans. The company's Global Wealth & Investment Management segment offers investment management, brokerage, banking, and trust and retirement products and services; and wealth management solutions, as well as customized solutions, including specialty asset management services. Its Global Banking segment provides lending products and services, including commercial loans, leases, commitment facilities, trade finance, and commercial real estate and asset-based lending; treasury solutions, such as treasury management, foreign exchange, and short-term investing options and merchant services; working capital management solutions; and debt and equity underwriting and distribution, and merger-related and other advisory services. The company's Global Markets segment offers market-making, financing, securities clearing, settlement, and custody services, as well as risk management products using interest rate, equity, credit, currency and commodity derivatives, foreign exchange, fixed-income, and mortgage-related products. As of December 31, 2021, it served approximately 67 million consumer and small business clients with approximately 4,200 retail financial centers; approximately 16,000 ATMs; and digital banking platforms with approximately 41 million active users. The company was founded in 1784 and is based in Charlotte, North Carolina.
