$BAC Head N Shoulder Top into Gap Fill? (Just Technicals)NYSE:BAC with pretty clean H & S top...
Not playing, doesn't fit my current narrative.
But this is how Eye Spot them, catch that ;p
- Prophecies_U_Can
BAC/PM trade ideas
Bank of America $BAC: Value Meets Growth at $45.47
Current Overview:
"Bank of America (BAC) is trading at $45.47, presenting a mix of undervaluation and growth potential. The stock has shown a 31.7% increase over the past year, with a recent pullback of -1.96% weekly and -3.53% monthly. Analysts have set an average price target of $46.22, indicating a potential upside of +1.65% from current levels."
Key Levels to Watch:
$45.00: A key level to monitor for potential buying interest if prices dip.
Resistance:
$47.00: Immediate resistance. Breaking this could signal momentum toward higher levels.
Growth Catalysts:
1️⃣ Interest Rates: Potential rate cuts in 2025 could boost net interest income, benefiting BAC’s core banking operations.
2️⃣ Consumer Banking: Strong growth in deposits and consumer loans supports BAC’s financial health.
3️⃣ Wealth Management: Expanding ESG-focused services appeal to high-net-worth clients, driving future growth.
Risks to Consider:
⚠️ Rate Sensitivity: While rate cuts could boost loans, they might compress margins if not offset by volume growth.
⚠️ Economic Cycles: Credit risks could increase during economic slowdowns.
Conclusion:
"Bank of America (BAC) combines undervaluation with strong fundamentals and promising growth avenues in consumer banking and wealth management. As it navigates macroeconomic challenges, watch the key levels—$45.00 support and $47.00 resistance—to track its next move."
Disclaimer:
This analysis is for educational purposes only and does not constitute financial advice. Always conduct your own research before making trading decisions.
$BAC Trade AnalysisThe daily chart for BAC shows a downtrend within a broader bullish channel. The recent price action has broken below critical short-term moving averages (8 EMA and 21 EMA) and is currently testing a key support level at S1 (43.05). The chart includes pivot points, trendlines, and dark pool activity, which provide additional context for potential price movements.
Key Observations:
1. Trend Analysis:
Uptrend Channel: The long-term green trendline remains intact, suggesting the broader uptrend is still valid.
Short-Term Downtrend: A lower high (LH) and a series of bearish candles indicate short-term downward momentum. The price is below the 8 EMA and 21 EMA, confirming bearish bias in the short term.
2. Support and Resistance:
Resistance Levels:
Pivot (45.87): The first resistance level, aligning with the 8 EMA.
46.24: A significant resistance level near the 21 EMA.
47.00: A dark pool level that may act as a ceiling if price rebounds strongly.
Support Levels:
S1 (43.05): Immediate support and current price zone.
40.95: Historical support level, providing further downside protection.
S2 (38.60): A critical support zone aligning with dark pool levels and prior lows.
3. Volume Analysis:
Recent volume spikes on red candles suggest distribution, but the bounce on the most recent green candle (December 20) indicates potential accumulation near support at 43.05.
4. Dark Pool Levels:
47.00: A dark pool print from December 5, marking potential institutional resistance.
39.70–39.49: Significant dark pool activity from earlier in the year, which may act as a magnet if price continues lower.
5. Moving Averages:
The price is below both the 8 EMA and 21 EMA, indicating bearish momentum.
A recovery above these moving averages would signal a potential trend reversal.
Trade Setup:
Scenario 1: Bullish Reversal from S1 (43.05)
Trigger: A strong bounce off S1 with price reclaiming the 8 EMA (~45.36) would confirm bullish momentum.
Profit Targets:
45.87 (Pivot): First resistance level and a key target for a short-term trade.
47.00: Dark pool resistance level.
48.08: The upper range of the recent downtrend and potential long-term target.
Stop-Loss: Below 42.50, as a break below S1 invalidates the bullish setup.
Scenario 2: Bearish Breakdown Below S1 (43.05)
Trigger: A daily close below 43.05 with increased volume would signal bearish continuation.
Profit Targets:
40.95: Previous low and historical support.
39.70–39.49: Dark pool levels and a strong institutional support zone.
38.60 (S2): Key pivot support for a deeper downside move.
Stop-Loss: Above 44.50, as a move back above this level would signal recovery.
Scenario 3: Consolidation Before Directional Move
If the price remains range-bound between 43.05 and 45.87, traders can look for breakout trades in either direction. Volume and candlestick patterns will be key indicators.
Final Thoughts:
Short-Term Outlook: Watch for price action at 43.05. A bounce with strong volume would favor a bullish trade, while a breakdown opens the door for further downside.
Long-Term Outlook: The green trendline suggests that the broader uptrend remains valid. A deeper pullback into dark pool levels (~39.50) could offer long-term buying opportunities.
BAC | SHORTNYSE:BAC
Technical Analysis of Bank of America Corporation (BAC)
Key Observations:
Current Price Action:
Price: $37.58
Recent Drop: -1.92 (-4.86%)
Support and Resistance Levels:
Immediate Support: $37.18 (Bearish Line)
Further Supports: $36.00 (Target Price 1), $35.22 (Target Price 2), $33.39 (Target Price 3), and $30.98 (Target Price 4)
Resistance: The price recently broke below a support level at around $41.78.
Trendlines:
The price has broken below a key upward trendline, indicating a potential shift from a bullish to a bearish trend.
Relative Strength Index (RSI):
Current RSI: 48.91
The RSI shows a decline, indicating increasing selling pressure but still in a neutral zone.
Target Prices:
Target Price 1: $36.00
This level is the immediate support and a potential first target for any continued downward movement.
Target Price 2: $35.22
If the price breaks below the immediate support, the next target is around $35.22, a previous support level.
Target Price 3: $33.39
Further downside could see the price reaching $33.39, another key support level.
Target Price 4: $30.98
In a more bearish scenario, the price could fall to $30.98, a significant support level.
Summary:
Bank of America Corporation (BAC) has experienced a significant drop, breaking below a key support level and its upward trendline. The next levels to watch are $37.18, $36.00, $35.22, $33.39, and $30.98. The RSI indicates potential for further declines if market conditions remain negative.
Bank of America WK longsHey guys hope you doing great.
BAC showing longs on wk time frame as we can see a very nice pcp pattern formed there which looks fresh and healthy.
Minimum we can take day trades upto level height.
Wait for it ✌
A compelling week ahead for trading BOFARecent Performance: Bank of America (BOFA) has seen notable activity recently,
trading at $47.51 amidst broader market volatility. The financial sector's
resilience has bolstered BOFA, even as caution is warranted due to potential
corrections. There appears to be an underlying bullish sentiment, indicating
investor confidence.
- Key Insights: Current market dynamics suggest a strategic approach to BOFA is
essential. Investors should focus on recognizing buying opportunities
following broader market pullbacks. Identifying support and resistance
levels will be critical for timing trades—maintaining vigilance around the
support area of $42.76 to $45.50 and the resistance point at $50.00.
- Expert Analysis: Experts convey a bullish outlook for BOFA, particularly with
projected growth in the financial sector by 2025. Financial analysts
emphasize integrating systematic investment methods, encouraging investors
to remain alert to fluctuations that may present favorable trading
prospects. The prevailing sentiment hints at resilience, suggesting it may
be prudent to adopt a proactive trading strategy.
- Sentiment Analysis: Current sentiment is rated at 60.0, a notable improvement
from last week's 0, showing a positive shift in market perception with 26
total mentions that reflect growing interest in BOFA.
- Price Targets: Based on analysis, key price targets for the upcoming week are
as follows:
- Next week targets: T1 at $49.00, T2 at $50.00
- Stop levels: S1 at $45.50, S2 at $42.76
These levels conform to the outlined trading rules, creating a possible range
for strategic positions.
- News Impact: Several influential factors could sway BOFA's performance,
including potential changes in global economic conditions, particularly with
discussions around BRICS nations and their financial implications.
Additionally, any updates on the Federal Reserve's interest rate projections
will significantly impact the banking sector's trajectory. Positive trends
from major competitors like JP Morgan further highlight the potential for
gains in the sector, possibly benefiting BOFA as investor focus sharpens.
BofA's Triumphant Return: Stock Surges to New Heights● Following a significant rejection around the 46.5 level, the stock price dropped nearly 50%.
● However, it found support near the 24.3 level and staged a comeback.
● After nearly three years, it has now broken through its previous major resistance and is currently trading at an all-time high.
● There are expectations that this upward momentum will continue, pushing the price even further.
$BAC weekly chart, Crab harmonic setup
Crab Pattern harmonic setup.
Currently 45.86
PRZ = 50.19
1.902 Special Situation Fib = 52.83
HOP / SLZ = 53.74
Once we achieve PRZ, will then evaluate for the retracement setup.
BAC GAP As you can see, BAC has a GAP that might be filled next week. We’ll be waiting for it to break the trend, and it's very important to wait for the retest before buying
Have a great day! :D
To keep in portfolioNYSE:BAC
The next target is 50 dollars.
If you have any questions, feel free to contact me.
BAC - Big Tumble AheadDespite Fed attempts to juice the economy with interest rate drops, looks like the dollar and the US economy in general is set for some reversion to the mean. Many articles claim that the Fed is bankrupt and as longer term interest rates continue to climb, Bank balance sheets are surely in a perilous condition. ANd that's only what we see. So many other off shore, non reportable bank entities are masking the true disaster that bank stocks really are.
I held put positions this past year in bank stocks but it has not yet panned out in my favor. Doesn't mean that I'm wrong though. My ideas are usually sound but my timing is seldom spot on. I.e, I've been buying physical gold and silver since 2014. The real challenge is living long enough to see my ideas get realized.
As I plan for my 2025 positions, I'll surely be adding some bank puts to my portfolio.
Bank of America (daily - log )Hello community,
Following the publication of Warren Buffet's results, I looked at the Bank of America stock.
Since the beginning of the year, performance 28%
Why did you sell the stock, there must be a reason that I don't know.
Upward trend, I put the 3 accumulation zones on the chart.
Make your opinion, before placing an order.
► Thank you for boosting, commenting, subscribing!
$BAC with a bullish outlook following its earnings #StocksThe PEAD projected a bullish outlook for NYSE:BAC after a negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 66.67%.
BAC Bull FlagI'm still bearish on BAC for.the long term, but can't ignore this bull flag on the 15m. It has a chance for a nice breakout and move up to retest the major trend above. Could be a good one to long on the break and then flip short on the trendline test.
BANK OF AMERICA Short-term buy signal.Last time we gave a signal on the Bank of America Corporation (BAC), was exactly a year ago (October 11 2023, see chart below), with the stock giving us a highly profitable buy trade, hitting the $44.00 long-term Target:
This time our focus is on the shorter term 1D time-frame where the stock is forming a Bullish Megaphone similar to the one in January - March 2024. Currently the price is pulling back (blue circle) and the symmetric pattern of mid March 2024 suggests that it should now rebound towards the 2.0 Fibonacci extension.
As a result, we are turning bullish mid-session, targeting $44.00 (above Fib 2.0 and below Resistance 1).
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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.
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.
Bank of America updateMy son said to me dady I wanna be like you when i grow up,I wanna trade big banks n stock market like you,I said to him is not easy but bcz amstil alive you are going to learn in good way,note that whatever knowledge you are invested in you are not only doing it for you but for your intier family your kids should learn from you,ameracn big banks in focus JP Morgan beat estimate on earnings aswell growth continue.
Bank of America priced in silverClock it ticking...
#silver #banks
continuation breakdown
capitulation volume
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.
$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.
