Bank of America Corporation Stock Code BAC.NYS
Outlook
Price tested the high of $25.06 for a second time but was unable to break above this resistance point for a second time. Following the test, price declined for the past two days after the failure test. Price has dropped closed below the cloud on 1st May 2020 and this could signal the start of a new downtrend. Currently price is support by the Conversion line and is above the Base line. Lagging Span is above price of 26 days ago but is below the cloud, which is a mixed signal. However MACD is weak and unable to move above the zero line into the bullish zone.
Strategy
$23.40 Short Sell
$19.60 Price Target
$25.90 Risk Management Stop
3 weeks Trade Duration
Citigroup Inc Stock Code C.NYS
Outlook
Price failed to move above a previous resistance high at $51.24 on 29 April 2020 and has declined below the cloud on 1May 2020. This could be the signal of more declines ahead. Currently price is supported by Conversion line and is above the Base line. Price also gapped down below the cloud and the previous closing price, which is a bearish sign. MACD is bearish with both its lines below the zero line.
Strategy
$46.50 Short Sell
$36.60 Price Target
$51.10 Risk Management Stop
3 weeks Trade Duration
