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NCB trade ideas

More Downside in Bank of America?Bank of America has struggled since the plunging in March, and now some traders may see more downside in the lender. The first pattern on today’s chart is the June 13 high of $29.80 -- below April’s peak of $30.93. The broader S&P 500, in contrast, made a higher high this month. That lack of relative strength may suggest fewer investors are accumulating BAC. Second is the rising trend line along the lows of May and June. The stock closed slightly below it yesterday and remains there today, resulting in a potentially bearish flag breaking to the downside. Third, MACD has turned lower. Fourth, BAC is back under its 50-day simple moving average (SMA). Is the intermediate-term downtrend resuming? TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more. Important Information TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means. This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates. Investing involves risks. 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, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com .
NYSE:BAC
by TradeStation
Short Term Trade IdeaBased on my analysis, there is a potential for the ongoing rally to initiate an upward impulse cycle. The chart suggests that the upward movement can be identified as an ABC pattern, rather than a 12-12 setup as previously counted. If this interpretation is accurate, it indicates a possibility of significant downward movement ahead. However, I hold a different perspective regarding the ABC count due to the prolonged duration of this correction. The extended timeframe suggests that it is unlikely to be a typical ABC wave 2. Instead, it appears more probable that there is further upside potential to be explored.
NYSE:BACLong
by BardiniCapital
BANK OF AMERICA Stock Chart Fibonacci Analysis 060723 Trading Idea 1) Find a FIBO slingshot 2) Check FIBO 61.80% level 3) Entry Point > 29.6/61.80% Chart time frame : B A) 15 min(1W-3M) B) 1 hr(3M-6M) C) 4 hr(6M-1year) D) 1 day(1-3years) Stock progress : B A) Keep rising over 61.80% resistance B) 61.80% resistance C) Hit the bottom 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.
NYSE:BAC
by fibonacci6180
BAC rising from support LONGBAC on the daily recently descended from an asymmetrical head and shoulders pattern near to or in the supply zone as indicated by the Luxalgo indicator down into the demand zone in late March and early May for a double bottom. Fundamentally, the banking system has been propped up by the federal central banking mechanisms and the situation seems to have stabilized. DPST and KRE banking ETFs have had some good days of late. On the chart the Luxalgo Echo indicator, a predictive algorithmic tool, suggests that BAC will rise during this summer and then bounced down from the resistance of the trendline of the neck of the asymmetrical H & S. I can easily conclude that BAC is ripe for a long trade. I will take an out of the money call option for DTE 9/20 striking #37.00. I will set the stop loss at 20% - Of the 15 contracts, I will close 2 after each 20% profit level is achieved and expect to make overall 150-250% by mid-August. Because of time decay, I will not carry these open beyond September 1st.
NYSE:BACLong
by AwesomeAvani
BAC,10d+/28.95%rising cycle 28.95% more than 10 days. ================================================================================== This data is analyzed by robots. Analyze historical trends based on The Adam Theory of Markets (20 moving averages/60 moving averages/120 moving averages/240 moving averages) and estimate the trend in the next 10 days. The white line is the robot's expected price, and the upper and lower horizontal line stop loss and stop profit prices have no financial basis. The results are for reference only.
NYSE:BACLong
by Tonyder
The END is NEARNow I understand there are a lot of shenanigan's going on in the banking sector, but I'm not going to pretend to know how exactly this will affect the price of bank stocks. Everyone and their mom is now bearish on bank stocks from the constant news of bank failures and if I've learned anything from the markets is that the market always moves against the crowd. So I make my decisions strictly from the price action and volume obtained from charts. BAC has been trending on this blue support line since 2016. You can even take it back to 2011. Each time it has bounced off of this blue trend line. However this time, it will be different. This time we had an inverse head and shoulder from which price broke down with SIGNIFICANT volume Although the price has bounced from the blue trend line for right now, it has already rejected the previous support of the inverse head and shoulders at $30. Validating the breakdown with more downside to come. The fact that a bearish pattern broke down with such high volume right above the extremely strong blue trend line tells me price action is gathering strength to be able to break below this blue trend line after years of support. When this break below occurs, it will be nasty. A rapid fall in price, not slow and drawn out. An optimistic bounce area will be between 24 to 23. However, a break of a trend line this strong can only be accomplished with significant strength, in this case bearish strength. I see BAC falling to the 19.5 to 17.5 dollar range, an area that previously was a resistance but is now a support. When will this break down happen? I don't know, but price action is showing it is bound to happen in the upcoming future. Possibly after earnings are all done with.
NYSE:BACShort
by MoRafi