I 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.
The 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.
NYSE: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...
Happy 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!
If you sort the market based on the YTD performance Financial sector would be the front runner in 2021..!
Although big banks' stocks are traded at slightly lower prices these days, they outperform most tech stocks and major indexes in 2021..!
this could be an alarming sign for S&P 500..!
NYSE:JPM
NYSE:BAC
NYSE:WFC
NYSE:GS
NYSE:C
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BAC is finally back above $40.50 but now the fight starts at $40.80. It was a previous level of support this quarter now I think it could be a resistance level on the daily chart. Wit the stress test news, it wouldn't surprise me if it waffles a bit around here then hopefully breaks. I'm long right now with both stocks and options on the company.
IF/WHEN $40.80...
Bac Stock - bank Of America is crushing
only sale the bac is going down sharply for the next xeeks to come .... please be careful..
after wave analysis the stock will go sharply to complete the c wave of ABC corecction in the monthly frame .
Looking at the 50EMA, we see BAC coming back into its monthly trend, catching support at the 50 and rallying 10%. This time BAC fell on extremely low volume while the RSI is also catching support. Financials are still in rotation and will be adding to this position over the week, aiming for mid/high 40s by early July.
I like to challenge the "common wisdom of the crowds" on my channel. Today I did a side by side comparison on two asset classes that according to different wisdoms will appreciate due to inflation and rising rates. The winner Year to Date may surprise a lot of new investors.
Bank of America (BAC) has just made a 12 year high and structure from February 1, 2021 suggests the rally is unfolding as a 5 waves impulsive Elliott Wave structure. Up from February 1, wave 1 ended at 39.97 and wave 2 pullback ended at 36.63. The stock rallies higher again and ended wave 3 at 42.94 as the 45 minutes chart below shows. Pullback in wave 4 completed...
Buy put 43, May 21 at 55 cents were published for private followers. We take the primary capital out when it was in +60% profits at the end of the market and let the rest make us more money tomorrow!!!
+60% in less than 6 hours..!
Those who have early access to my trading ideas have the chance to perform better.
Don't you believe it?
Check my recently private...
Fundamental Friday (BAC):
Gallacher's Fundamentals:
1. Select historically "Cheap" or "expensive" markets.
- BAC is within uncertainty range level 1.
- Financial sector is cheap, relative to tech. BAC has an 18.19 PE ratio vs 585 PE ratio of TSLA.
- BAC is neither cheap nor expensive relative to rivals in the financial sector (JPM, GS, by RSI).
2. Develop a...
