Tag: Bank of America

Bank of America Corp Stock Code BAC.NYS

Outlook

Price reached a high on 16 August at $ 36.70 and has been on a decline since that high. The decline was supported by the cloud, keeping the uptrend intact. The low was just above at the Fibonacci 62% of the price advance from $29.31 to $36.70, keeping the bullish trend intact as well. Lagging Span is above price of 26 days ago but is inside the cloud at the moment.  MACD remains bullish. If price is able to stay above the cloud, it could be heading higher towards the previous high at $36.70.

Strategy                  

$33.65                Buy

$36.70                Price Target

$32.30                Risk Management Stop

3 weeks              Trade Duration

Bank of America Corporation Stock Code BAC.NYS

Outlook

Price broke below the cloud three trading sessions ago and in the previous trading session, price continued to move lower, confirming the bearish price trend. A Double Top chart pattern with MACD divergence warning is hinting that a price high could be in place and a bearish price trend could be ahead. Lagging Span is below price of 26 days ago but is above the cloud. MACD remains bullish with both its lines above the zero line. However, MACD has been warning with divergence of a possible price high and an impending price decline ahead. We think price is likely to move lower to the next strong support level at $42.60 in the next 1-2 weeks.

Strategy                  

$45.95                Sell

$42.60                Price Target

$47.55                Risk Management Stop

2 weeks              Trade Duration

Bank of America Corp Stock Code BAC.NYS

Outlook

Price broke below the cloud in the previous trading session, changing the chart outlook to bearish. Price also broke below a V-shaped Ichimoku reversal, hinting at a change in trend. Price closed a gap, confirming the bearish price trend. Lagging Span is below price of 26 days ago but is inside the cloud. MACD is in the bullish zone but has a bearish crossover, hinting at a bearish price trend ahead. There was also a MACD divergence warning of a potential price high earlier. We think price is likely to move lower to the next price support at $40.42 in the next 2-3 weeks.

Strategy                  

$44.92                Sell

$40.42                Price Target

$46.70              Risk Management Stop

3 weeks             Trade Duration

Bank of America Corporation Stock Code BAC.NYS

Outlook

Price broke above its recent high in the previous trading session and in the process also created an Ichimoku V-shaped reversal, which has a price target at $54.24. Conversion and Base lines had a bullish crossover earlier, hinting at a bullish price trend. Lagging Span is above price of 26 days ago and above the cloud, confirming the bullish trend. MACD is bullish with both lines above the zero line. We think price is likely to move higher to the Ichimoku V shaped price projection target at $54.24 in the next 2-3 weeks.

Strategy                  

$48.45                Buy

$54.20                Price Target

$46.10                Risk Management Stop

3 weeks              Trade Duration