$BAC BROKE MAJOR SUPPORT!-Major support broken at 38.17 good opportunity for smaller accounts to capitalize off cheaper options
-will be lookin for an entry on puts as we get a continuation
-1-2 candlestick confirmations to avoid fake outs
BAC trade ideas
BAC - BULLISH SCENARIOBank of America Corporation will report earnings on Monday (18.04) before the market open. The expectations are for 0.7492 EPS and 23.18B Revenue.
On the chart, we have a long-term ascending price channel, RSI in bullish divergence and the price is heading for a new test of the horizontal and diagonal support level.
If the support level withstands, this will be a good entry for the long-term traders.
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BAC Bank of America - Alternate viewCould potentially be seeing a Head and Shoulders pattern forming, which is more prominent on the Daily, but for the sake of seeing the full picture I've chosen the Weekly Chart.
- Head and Shoulders Pattern
- Sharp Sell off to Complete the H&S's
- Bought somewhere between $22-30 , to complete an Inverse Head and Shoulders (Right Shoulder) before the rally starts.
BAC a buy?? Why I think so. With the current rising rate environment and BAC just being one of the best banks to capitalize we could see some upward movement in the next few weeks. Entry point currently around $39 Will continue to watch this area. I expect a quick touch of the trendline and a solid bounce higher.
BAC shortchecking out XLF and saw banks are down again today , we can continue selling into tomorrow thus I checked out one of my favorite bank stocks $BAC . break below 41.08 (or 41 if you like flat numbers) we can see 40.18 , even down to 39.85 . 40.5 cons are at .16 / 40p are .08
that's just my humble opinion though , do your due diligence . NFA
$BAC Key Levels, Analysis & Targets $BAC Key Levels, Analysis & Targets
Bank of America… Ok… I’m starting to setup swing plans again…
All target are buy targets…
Have each target locked and loaded, and once it fills load the next buy target.
After each target hits set your SELL order for 17%… (that’s the lowest and I’ll adjust this along the way)
Happy Swinging…
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I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed.
GL and happy trading.
IF you need anything analyzed Technically just comment with the Ticker and I’ll do it as soon as possible…
Bank of America Stalls at Potential ResistanceFinancials are the second-worst performing sector in the last week, and today we’re considering a difficult chart for mega lender Bank of America.
The first pattern on the chart is the $43.50 level. It was a peak last June, then a low in December and January. With BAC stalling there recently, is the price zone becoming resistance again?
Next, consider how the stock behaved around $50. It probed that level in January and February without breaking out. That left a potential bearish double-top reversal pattern on the chart. It also represented a failed breakout versus early-November.
In that respect BAC resembles Amazon.com early this year . It also had a double top and was stalling around its 200-day simple moving average (SMA). AMZN also struggled with a difficult macro environment as sellers targeted high-multiple stocks. This time, they’re concerned about he flattening yield curve and what it could mean for banks.
Finally, stochastics are back in an overbought condition.
BAC reports earnings on April 14.
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Short term drop in BAC detected for tomorrow -3% or moreI've been testing my trading system on Crypto very successfully. Take a look at my past ideas/predictions posted. I started working on applying the system to Stocks and the first trade was done on QQQ to catch the quick drop we saw to fill the gap. I'm seeing a similar setup and a high momentum drop.
If you are interested in seeing me make calls on stocks, like and follow me.
Please keep in mind that I'm not a financial advisor. Trade at your own risk.
BAC Mid-Long Term Entry Play (Positions & Options)Technical Related:
- Double Top on BAC (already hit)
- Hit resistance level (around $38.25)
- MACD dipped extremely under half-line (more room for volatility)
- No further bearish technical indications
News Related:
- War between Ukraine & Russia heating up (bearish)
- Bank of America's financials are good + getting better (bullish)
- Buy rating given from analysts
- 1-yr price target: $51.57
- EPS Estimate: 3.26
The Play:
- Long-term position entries
- Long-term option entries?
- Mid-term option entries
*Please critique me on anything as I am new to charting :)
