BAC Cup and handle formationBAC Cup and handle formation in the making. Most likely retest last support level and take off from there.
BAC trade ideas
BAC : Long AttemptHello,
I think that the BAC weight can be increased by putting stop-loss in the portfolio.
Valuable Risk / Reward Ratio Target : 27.24
Take Profit Points
25.39
25.97
26.74
Stop-Loss : 23.91 or Close Under 23.91
Subsequent to 23.03 causes zone changes.
Regards.
BAC personal recommendation- Warren Buffet has recently purchased many share of BAC
- This is really good trend to Buy banking stock now since technology (nasdaq) is getting correction, due to long bull run.
- Last two days, people tend to buy more stock on NYSE & Dow Jones ( Cruise, Airplane, Bank, Restaurant and Casino stocks )
Warren Buffet is buying blocks of BAC. Let's look at the chart..Buffet has acquired $2.1 billion of BAC in the last 12 days ( see source below ). Because Buffet's time horizon is "never sell", it would make sense to look at an ultra long time frame, like the 12 month candles.
In Q1 of 2020, BAC tested a major level that was supported in Q1 2000, and had significant resistance in Q1 2009, Q1 2010, Q1 2014, and Q1 2015, before it finally broke out in Q1 2016. The first quarter of the last 20 years has been consistently important, proving that once again in 2020.
BAC also tested major technical levels as shown in this chart:
Based on the price action, Bank of America could be a solid investment for long time horizons and a good asset to play the long side for traders. It would not surprise me to see Bank of America double in the next several years. However, traders move money around for a living. Returns are always relative. Other investments are likely to see significantly greater returns than BAC, so what could be a good investment against fiat may not be a good investment against other assets.
markets.businessinsider.com
ACHIEVED 2 TARGETS MOMENTUM LOOKS GOOD- QUICK TGT 27ACHIEVED 2 TARGETS MOMENTUM LOOKS GOOD -QUICK TGT 27
BAC riding Impulse Wave 3 of Elliott wave right into resistance!BAC looks to be riding Wave 3 Impulse with Extension right into strong Resistance. Could be a perfect spot for some consolidation into wave 4 before wave 5 looks to test the resistance. Conversely we could see a push through the resistance and then wave 4 will form and bounce off of the new support. Looking at wave 3 being an extension wave it is at it's 5th point and seems to me that any at this point would lead to wave 4.
- RSI is overbought on 4 hour chart (71) BUT only at 63 on the daily chart SO we could see a blow through of the resistance due to it still having room to move on the daily chart
- looking at the previous may-june wave setup it seems to be doing the same setup, wave 3 tests the resistance and then wave 5 blows through it
opposite: oversold and strong resistance could lead to breaking of the waves and bearish move
Lets see what happens. Happy to hear any critique/ideas on my setups or ideas, thanks!
BAC Fib RetraceBank of America Fib retrace from the big drop, I found that it appears to be trading in a channel currently, possibly near the end as it comes into historically heavy resistance.
Bank America Swing TradeThe price breakout on July 29 caught my attention. I decided to wait a couple days to get some confirmation that the price would hold at the new level. Starting on Jul 31, I've been opening positions based on volume and price analysis at or below to 20-DAY EMA, closing positions based on BUYING volume falling below average. At any other time in history, I would be holding my position through this trend, but given the circumstances unfolding around the world, it seems prudent to be in CASH as often as possible. If the financial sector gets the slightest whiff of unpleasantness, I expect to see a high-volume selloff with little notice. You can see how uneasy the market is given how often this stock gaps down from its upper bollinger band.
Bank of America Stock AnalysisHOLD is the wisest option.
Based on technical Analysis there might be a slightly possibility that the prices might start going up as the Resistance of 25.5USD was broken, but the prices are still moving in sideways trend and the best option is to hold.
Banking some gains in BACThe financials have been laggards on the last leg higher in the S&P but we found a good recent entry point in BAC at $23 using the Extreme Turn (the "Money Point" indicator among friends).
Signal expressed as Aug 25C for .65 and then spread today when the sell signal printed at 24.42. Holding the rest for gap fill above $25. We'd like to see price hold the 233 EMA (T-Line) through Friday expiration.
:))I consider this a buy. Buffet has a history of buying a stake in company's and voting to increase the dividend size long term.
Headed to a .50 dividend atleast
BAC - Above 25BAC has a long term relationship with 25$ as noted on the chart
brk.b is buying here and will continue to do so
short term analysis shows channel forming
ABC BullishA lot of institutional buying noted
NV is high/Dividend good too (o:
Not a recommendation
$BAC Bank Of America reaching Apex
With the huge buying by Mr Buffett in the past 2 weeks the stock is now on the verge of breaking above the 2020 downtrend.
Indicators are turning north and bullish
Any weakness in tech could possible help out the move as $$$ rotate into more safe havens
ABC BullishBanks are in covid land
so listen to your gut
I own this but I do not recommend it
Ok to make mistakes..if we learn from them
Bank of America (BoA) / Short Term AnalysisWith the index that started to rise after the abundant money support given to the markets after the pandemic, we saw that this stock's price could rise to the level of fib 0.618.
After this situation, the price seems to be between the rising trendline and the fib 0.382 level for now.
If this continues and acts as a rising triangle pattern, the price may reach the tested fib 0.618 level in August or October.
Only personal opinions and ideas. Does not include "Legal Investment Advice"...
$BAC Short Trade IdeaShort trade idea
Entry point on 61 or 50 fibonacci retracement level depending on confluence with trendline and bullish force disipation
BAC in a great position for next rotation from QQQ$BAC With Sideways action for a while banks waiting for their turn for money coming from overheated software and tech names. Had a breakout and with enough volume $28.50 with a breather and continue to $30 target
Bank Of America - My forecast movement for the stocks of WBThere is an information that Berkshire asked and received permission from the Federal Reserve Bank of Richmond in April to buy stock of Bank of America more than 10% stake in a bank. With this permission, now Berkshire can buy stocks of BAC up to 24.9 %. Now, whatever reason WB and his men has, of course, based on solid fundamental analysis. They are expert already. They already do their job.
Now, my job as a chartist see the price action context in my chart and decide when and what price I should go to buy. Now, let's start this analysis.
First of all, BAC dropped on March 2020 to the long term price level that mark bulls territory (18.06). This level still interesting for big Institutions so that they defence this line and bought a lot of shares and made BAC rebounded well. Since then, BAC go up and reached 27.55 before sellers came and pushed it down to the level 22.58.
Buyers making ground there, a solid proof that Institutions leave their money on the market now. So, based on this fact, I will prefer to buy this stock at Institutions price level with high expectation to get profit in future. So, good luck.
Stay blessed
Jee
BAC LevelsPotential support and resistance levels. BAC is firing long on the weekly chart. I'm not sure about the state of the markets today considering JPOW's words seem to be foreboding of turmoil in the near term. Interested in seeing how this plays out.
