BAC trade ideas
BACBAC, 23JAN21, 1D Time Frame, 1-2 weeks horizon.
BAC has been on a bull run the past few weeks where price action has been respecting the 21ema. At this current time, price is at the 21ema and about to touch the trendline and also at the 61.8% fib level. I anticipate a bounce from this area for another bullish move.
MACD lines pointing down but over all trend is up while the histogram shows lesser momentum on the last swing high (a sign of divergence or consolidation)
STOCHASTICS is pointing down but is currently at the oversold level. From here the only way to go is sideways or up.
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Disclaimer
I am not a registered investment advisor and do not offer investment advice and recommendation. All my post is not a recommendation, advise nor a suggestion and should not be used as a replacement for investment advice from a qualified licensed professional. All my post is for, information and entrainment purposes only. You, the reader, bear full responsibility for your own investment and trade decisions and should seek the advice of a qualified securities professional before making any investment or trade.
$BAC is projected to have a bullish outlook after earning releasThe PEAD projected a bullish outlook for $BAC after a positive over reaction following its earning release placing the stock in drift B
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Expanding Triangle on BofAOn the 1 hour timeframe, the pattern of expanding triangle has formed, which indicates the readiness of the paper to continue the trend for a decrease. I expect a fall if the bears manage to lower the price below the support level of 20.89-21.52$.
Bank of America Announces Stock Dividends and Common Stock RepurBAC: Bank of America
2021-01-19 06:15:00
Bank of America Announces Stock Dividends and Common Stock Repurchase Plan for Q1-21
$BAC$BAC ran prior to earnings and gapped down breaking the lower trendline. Currently at the $32.31 support, as the momentum decreased and below the EMA. The next support is $31.82, if there are enough buyers the resistance is $33.50.
What's in for Bank of America after the earnings report?Today we saw the earnings report for Bank of America and it did not meet the investor's expectations. So far the earnings season (for the banks) starts a bit off. The EPS came above expectations at 0.59 versus 0.54 expected. Revenue though came in with a miss - 20.1B against 20.56B expected. The main cause for the miss cited is the COVID-19 pandemic.
RSI is already crossing from overbought territory, though MACD's crossing is lagging. The histogram is showing a divergence with the price which is in line with RSI's early divergence with the price.
My expectations are for a drop towards the trend line support at the $31.35 zone. A breach there may lead to a potential drop towards $30.61 and by this jeopardizing the uptrend.
The Laws of Supply and Demand Affects the Price MovementThe Laws of Supply and Demand Affects the Price Movement
1. When supply exceeds demand, the price is more likely to fall.
2. As the price is falling, supply will increase, and demand will decrease. As a result, the price will fall faster.
3. At valleys, demand is greater than supply; therefore, the price is more likely to increase.
4. At peaks, supply is greater than demand; therefore, price is more likely to fall.
5. As the price trends higher, demand is greater than supply; therefore, price is more likely to go higher.
Thank you for reading!
Greenfield
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Disclosure: Article written by Greenfield. A market idea by Greenfield Analysis LLC for educational material only.
If you are looking for a safe bet for the next 2 weeks..!11.5% gain with R/R: 2.64 which is acceptable.
I can make you confused you by a crowded messy chart, but I would rather simple effective presentations..!
BAC - Federal Reserve said Banks could resume stock buybacksLooking for a $32.30 to $31.00 pull back at most before entering.
The Fed in June had put temporary caps on shareholder payouts, prohibiting them from buying back stock or increasing dividend payments.
"The banking system has been a source of strength during the past year, and today's stress test results confirm that large banks could continue to lend to households and businesses even during a sharply adverse future turn in the economy," the Fed's vice chairman for supervision, Randal K. Quarles, said in a statement.
JPMorgan and Morgan Stanley released statements, saying they planned to resume buybacks starting next quarter. Citi and Goldman said they intended to resume such purchases next year.
Bank of America CEO Brian Moynihan has said that his company plans to buy back stock as soon as it is allowed to.
The six biggest U.S. banks could buy back as much as $11 billion of shares in the first quarter under the new distribution policy, according to Bloomberg.
Source "https://www.thestreet.com/investing/banking-stocks-jump-after-fed-allows-buybacks-to-resume#:~:text=The%20Federal%20Reserve%20said%20that,buybacks%20in%20the%20first%20quarter.&text=Banking%20stocks%20jumped%20Monday%20after,beginning%20in%20the%20first%20quarter."
BAC - Long Looks like it's about to go down for a while, but it's within the channel. It's my favorite bank, I'll continue to hold, but does not look like a buying opportunity at this time.
BANK OF AMERICA CORPORATIONBANK OF AMERICA CORPORATION
Our contribution was made by the ability to buy up to the resistance line, a struggle for power Buyers and their relative strength I recommend buying right now up to that point and their damage If he will penetrate Tanya
God is the Lord of the Conciliation
BAC - EW analysis - C in progressBAC - It is in 3rd of C wave up. Buy the three wave sideways pull back for next higher high as target. The overall cycle up is in double zigzag move.
Give thumbs up if you really like the trade idea.
BAC - Follow the shark3 Slow Turtle Buy within 2 weeks.
Up 10% since last Fast Turtle Buy call (Looks like shark is buying which triggered FAST TURTLE BUY).
Might be resisted by EMA200 (Purple line) and GAP
ATOM Buy
FiFT +ve
Volume is increasing (insider bought 100 mil shares at Friday closing)
BAC LONGNYSE:BAC
13 MA and 50 MA showing uptrend
RSI also going up
im convinced that the old resistance trend line will become the new support tl
fib retracement retested at 23% previously, am a bit late but i will proceed with this trade
BACBank of America is slowly losing momentum. It broke out of its rising wedge and is consolidating near a strong resistance level. If it dips below the resistance line. We could see a drop back to the 29s. Overall this is still a strong stock with a good business outlook
