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Bank of America

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BAC trade ideas

10% Correction in banks seems imminent!Smart money sell-off before earnings! Looking at charts and the option data I'm convinced a c10% correction is imminent! You can see the most important support(green line) and resistance (red line) levels. Best, Moshkelgosha DISCLAIMER I’m not a certified financial planner/advisor, a certified financial analyst, an economist, a CPA, an accountant, or a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
NYSE:BACShort
by Moshkelgosha
5
Bank of America | Fundamental AnalysisUnder Brian Moynihan's leadership, there has been a simply astounding transformation of Bank of America's business after the deep financial crisis. The bank has transformed from one institution whose viability was in question to a better institution with exceptional asset quality, a priority on effectiveness, and industry-leading technology. And investors who bought stock in turbulent times have been well rewarded. Throughout the past decade, Bank of America has delivered an unbelievable 820% total return, and investors who bought it during the worst moments of the financial crisis have done even better. Nevertheless, many analysts still call Bank of America stock "cheap," and with a reasonable explanation. Given several catalysts that could lead to earnings growth in 2022 and beyond, could Bank of America, which currently trades at about $48, reach $100 within this year? Some pretty compelling catalysts could push Bank of America's earnings up in 2022. Interest rates and inflation are possibly the most critical for investors to understand. Let's start with interest rates. The U.S. Federal Reserve looks set to begin raising interest rates in 2022 to curb inflation, and investors expect at least three 25-basis-point rate hikes, as per the futures market, with a high probability of four or more. That would raise interest rates on loans for banks in general, and Bank of America, with its high share of non-interest-bearing deposits, would benefit the most. The bank estimates that raising the yield curve by 100 basis points would result in an additional net interest income of $7.2 billion a year. Then there's inflation. Higher inflation not only usually leads to higher interest rates, but also means higher consumer prices. Not only does this mean that consumers are paying higher interest rates, but the average amount they need to borrow to finance the purchase of a new car, house, or other purchase will also increase. One proviso is that rising interest rates can lead to lower consumer spending and other economic activity, and if rates jump too high, it's definitely worth keeping an eye on. But since interest rates are near record lows, there will be plenty of room for them to rise before it has a significant impact on spending. Over the past couple of years, bank investors have been worried about the possible consequences of the COVID-19 pandemic on businesses, such as loan defaults and foreclosures. And fortunately, the banking industry seems to have managed to avoid any negative scenarios. On the other hand, it's easy to miss some of the positive statistics and strong results achieved over the past two years. For instance, the average current account balance at Bank of America is now 40% higher than it was in Q3 of 2019. Digital sales (e.g., customers getting credit online) are 33% higher than before the pandemic. And Bank of America has raised its investment banking market share by 60 basis points to 6.9% over pre-pandemic times. In short, Bank of America enters 2022 in excellent shape for its business and is in an even better position than before to benefit from a strong economy. Bank of America stock will likely be worth $100 in the not-too-distant future, but within the next year, it is unlikely. The Fed is not forecasted to raise interest rates much in 2022, and while consumer interest rates are likely to be higher a year from now, there is little reason to believe that they will jump enough to double the bank's profitability. Whether or not Bank of America reaches a triple-digit stock price this year, the fact remains that in 2022 and beyond, there could be some pretty strong related factors contributing to earnings growth, and Bank of America could indeed be a bargain at current levels.
NYSE:BACLong
by FOREXN1
Banks could experience a bullish rally..!it seems Banks stocks have finished their correction and started a new rally! Keep them in your portfolio during high inflation times! You can see the most important support (green lines) and resistance (red lines) to watch in the coming days in these charts! Best, Moshkelgosha DISCLAIMER I’m not a certified financial planner/advisor, a certified financial analyst, an economist, a CPA, an accountant, or a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
NYSE:BACLong
by Moshkelgosha
6
BAC 20211214 AnalysisDisclaimer: The contents are for informational purposes only and do not constitute investment or trading advice. BAC is in an upward channel. A reverse head and shoulders/ascending triangle pattern formed between Jun-Sep and the neckline was broken @ $44. Price has now pulled back to $44 support and if this level holds, BAC has the potential to rise to ~$52 towards the upper trendline of the channel. Stop loss at $41.5, Price Target 1: $48, Price Target 2: $52
NYSE:BACLong
by Trading_Padawan
Descending Triangle in Bank of AmericaBank of America attempted a breakout in October, but some newer patterns suggest a potential change of direction. Notice the series of lower highs since December 1 as BAC tries to hold roughly $43.60. That’s a potential bearish triangle. Interestingly, the support line is near the June high of $43.49. Second, most of the candlesticks recently have been solid, meaning that highs have been sold. Third, price has gotten trapped under the 50-day simple moving average (SMA). The 8-day exponential moving average (EMA) is also under the 21-day EMA. Next, MACD has been steadily falling since early last month. Switching to the weekly chart, BAC just formed an inside candle. That kind of compressed price action may suggest volatility is getting ready to expand. Finally, the macro backdrop may be more difficult for the company because the Federal Reserve’s tighter policy is flattening the yield curve. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more. Important Information TradingView is not affiliated with TradeStation Securities Inc. or its affiliates. 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. 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
Bearish on Bank Of America (BAC)This is my first time publishing any analysis and I have also not been analyzing charts for to long. This post is more so looking for feedback on my analysis, but if it helps others, then great. That being said, I am confident in shorting BAC as a result of the bearish indicators shown in my chart. For one, it is hovering above a support level that I think needs to be hit before BAC rebounds. My other reasoning is the the 50 day and 100 day moving averages are crossing. The third reasoning shown in my analysis is the "Bearish Cup and Handle Pattern." Also not drawn in what I believe to be a bearish pennant pattern. These reasons are why I have a bearish bias on BAC. As I said before, I am new to this, so any feedback would be MUCH appreciated. (Not Financial Advice)
NYSE:BACShort
by inactiveaccountdontfollow
1
BAC at an inflection pointGreen lines - rising wedge pattern Yellow lines - Recent bearchannel /Possible flag White line - Resistance turned Support area Bearish Rising wedge is obvious here. There's room for one more trip up should BAC breakout of that bearchannel with a possible bullish target of 50$. Should BAC lose the wedge support and drop below 43.40 we could possible drop down to 32-35$ which would represent a 25% correction. If it loses support this week or rallies up ome more time , BAC is heading for a correction into the Spring 2022
NYSE:BAC
by ContraryTrader