Bank of America Corp Stock C ode BAC .NYS
Outlook
Price reached a high of $30.13 on Tuesday but was accompanied by a bearish warning from MACD. Federal Reserve’s decision to pause rate is also weighing on price. Market expectation of a possible cut next year led US 10-year Treasury yields lower, which dragged banks’ shares lower as well. While price is still above the cloud, both Conversion and Base lines have a bearish crossover. MACD is about to turn bearish as well.
Strategy
$28.18 Short Sell
$25.50 Price Target
$29.70 Risk Management Stop
3 weeks Trade Duration
Micron Technology Inc Stock Code MU.NAS
Outlook
Price rose yesterday on a good set of earning results to the previous high price of $43.97. A gap created indicated the strong bullish price movement yesterday. A bigger candle yesterday, compared to the previous 5 sessions also helped to confirm the strong price trend. Conversion and Base lines crossover to give a bullish buy signal with price above the cloud. MACD is turning up from near the zero line. Both these signals could help to push price above the previous high’s resistance. A break above the resistance is likely to bring price higher to the next resistance point at $48.80
Strategy
$43.99 Buy
$48.80 Price Target
$40.50 Risk Management Stop
3 weeks Trade Duration
