BAC trade ideas
@LN Hey @Ln use this and learn how sir is being used in the past graphs, you will see when to buy and sell, and it will very useful
BAC: Trendline brokeA call was given for this trade on 26 July, bought at 37.96. If you hv taken this trade, the profit should now be 120% of the risk risked. You may move your stop loss along with the price to secure your profit.
BAC Bullish Trend(Update)BAC is slowly forming signals that may suggest an up-move to be had. Currently I'm making this TA during market hours so I suggest you wait until market close to see if the TA still holds up. I believe we may see a move to the 44's since we are seeing a ema cross form on the Willy Oscillator. Not only is the willy oscillator forming a trend, but the squeeze indicator shows reducing selling momentum. If you are a more of a risk aversive trader then it may be wise to wait to see a confirmed squeeze or to wait and see if BAC comes back to support.
Bullish Signals
-Ema cross(willy oscillator)
-Squeeze indicator(reducing selling)
Price Target
-43.43
How I'm Watching BACBAC is seen to have rejected the 20ma, meaning it will most likely bounce back towards the lower Bollinger Band. In order to place a buy order on BAC, I want it to hold its 0.382 Retracement on the Fibonacci Resistance Fan, which lies around 37. A break through this support will provide a great buy area around the 34 price level.
Good luck and trade safe
Key Points
-37(Fibonacci Support)
BAC BIAS: UPOverall the price still in stalling position and oversold, it can potentially break up the resistance ahead and turn the current trend. Make sure to apply SL and TP.
Decades Long Rising Wedge on BAC (Targeting 80% loss)The main chart and title is pretty blunt. We see two rising wedges on BAC and the blue one predicted the 2008 crash, but because this is on the monthly chart it tools years for the price action to perform. We may again see this happen again as the crash begins moving in slow motion and is imperceptible to most as the problem becomes more and more severe. With the blue wedge price action tested previous action as support for about 6 months.
The main reason I don't think people are aware of what is going on is they don't really look at monthly charts and if they do they don't think to always use the log scale on traditional equities, even though the price action goes from $1.6 to $50. Many may see this and not see any short term trades and may also just forget what is coming. Later they look back and go Doh! and I know I have made that same mistake. Get chopped up and stopped out looking for a margin long when I could have just held or stopped out looking for a short when I could have just bought the dip at target.
It seems to me to be a time to pivot to plays around the market topping as well as preparing for a bear market and perhaps the social unrest that will bring. I personally will be looking to buy BAC or other equities for the long hold while around (below) the purple trend line. Stuff like this makes me think about what """They""" are thinking when they take years to distribute. There is probably a reason why in the 08 crash the SPX bottomed out at 666.
$BAC with a Bearish outlook following its earnings #Stocks The PEAD projected a Bearish outlook for $BAC after a Negative Under-reaction following its earnings release placing the stock in drift D
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Bank of America - - BAC - - HITS A MAJOR TARGET
I Show a long drawn from the low in 2009 to a high at $35.72, and a resulting pullback to a Measured Move 50% line.
That GREEN LINE, way up there which was just struck at $43.55, is a TARGET LINE. Price action tells us that we are in a pullback. The next Measured Move, however, is HARD to draw up and predict.
Ask me if you want training on this.
DJ
$BAC Chart IdeaI don't usually get this specific with things like loading zones but I'm taking a chance here. The reason I included it was because I saw some recent chop around that zone, plus the fact it is below a gap makes me think it will be loaded before shooting up. I am waiting for confirmation of bounce off TL.
$BAC Chart IdeasThe reason I like the immediate gap fill as my first theory is because of the bullish wick on the last candle. Otherwise it may be a few days before that gap is filled.
BAC Ahead of EarningsNYSE:BAC
BAC has earnings on Wednesday and I thought I would give my thoughts on potential trades ahead of the big day.
Firstly on the 4h chart, I notice that the price is below the red line currently(red represents the 200 day moving average) which is a strong support/resistance zone. Right now the price is below the line and it acts as a resistance as seen in the months before as well.
Another thing of note is that BAC has beat earnings expectations for the last 5 quarters in a row, however, this does not always mean the price will go up afterward. The last quarter showed a large beat on expectations yet the price still went down.
If the price does break through the 200 day moving average after earnings, I would recommend a long position but currently I am advocating for a short also noting how much the company's price has grown in the past year (+68%).
BAC - Double bottom on dailyHappy saturday traders! Next week, we have a load of bank earnings and we start off with BAC and WFC tuesday morning. Here's my thoughts on BAC: Double bottom pattern on daily TF and put/call ratio of .76 . On Friday, 3800 38.5 7/16 calls were bought during the day. Options are looking for a 3.5% implied move. GL! I will post a WFC analysis later!
BAC roll the put vertical - over and overBAC has large reserves that will continue roll out to the bottom line as the bank exceeds the capital requirement of the stress test.
BAC has a very large stock buyback in place and will use a substantial amount of this money to support the stock price and the buyback.
Buffett received permission to increase ownership to 15% of the BAC common stock without Berkshire being considered a bank with holding company. This alone implies that 15% of the common is not traded - an older Buffett idea not generally adhered to by the current portfolio managers at BERK.
BAC raised the dividend this quarter.
Indicators are positive.
Absent a decline in RSP and SPY the position continues to pay with an at the money cash secured put and a standard deviation lower put.
Here is the trade... Sell the August 20 $41 strike put for $1.95 and buy the August 20 $36 strike put for $0.22. Net gain of $1.75 at the close Friday.
I will roll it again in 21 days.
