Never been a big fan of Bank Stocks, but with much of the market recovering, banks still have room to head back to their 1q price levels. We also have the election on the horizon which leads to uncertainty and big money/smart money loves certainty. With the Fed printing and borrowing rates at historic levels, a dividend paying bank stock like $BOA fits that criteria for the smart safe (boring) money.
At the moment BAC is consolidating and we're waiting for a break to see which way this stock will move. It appears there is still a good amount of time before it breaks but it's another one we'll keep our eye on. If it breaks in either direction, we'll wait for the price to retouch the purple lines on our chart confirming resistance or support (depending on which way it breaks), before entering a position. We know Buffet (through Berkshire Hathaway) just bought another 34 million shares in July and BOA is still paying a 2.8% dividend with room to grow.
Our Targets:
If we get a break to the upside, we're aiming at $32-34 range. A break to the downside, looking at $22.00 area for support. Once again, we're waiting for a break and then retest before taking a position on this one.
Feel free to give us a follow and shoot us a like for more analysis updates.
Cheers!
Disclaimer:
I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on here, expressed or implied herein, are committed at your own risk, financial or otherwise.
Feel free to give us a follow and shoot us a like for more analysis updates.
At the moment BAC is consolidating and we're waiting for a break to see which way this stock will move. It appears there is still a good amount of time before it breaks but it's another one we'll keep our eye on. If it breaks in either direction, we'll wait for the price to retouch the purple lines on our chart confirming resistance or support (depending on which way it breaks), before entering a position. We know Buffet (through Berkshire Hathaway) just bought another 34 million shares in July and BOA is still paying a 2.8% dividend with room to grow.
Our Targets:
If we get a break to the upside, we're aiming at $32-34 range. A break to the downside, looking at $22.00 area for support. Once again, we're waiting for a break and then retest before taking a position on this one.
Feel free to give us a follow and shoot us a like for more analysis updates.
Cheers!
Disclaimer:
I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on here, expressed or implied herein, are committed at your own risk, financial or otherwise.
Feel free to give us a follow and shoot us a like for more analysis updates.