As price advanced passed its' previous high of 12.20, it did so on negatively diverging internals. This is not what you want to see when long. Typically, indicators will create new highs with the price action to confirm its' bull run. Right now the indicators are not confirming the price action to the upside. Add in the fact that BAC closed below its linear...
Seems to be classic failed breakout/double top set up at major resistance area... In addition, seems like bulls are not very strong here as they didn't manage to make it higher to the top of the channel.... If triggers, shorting it here for the re-test of the support at 11.30 area and overshoot of trend line
BAC is going for a doubletop. MACD is giving strong divergence and the fact that it is struggling to go up from $ 11 is giving me confidence to enter this trade. With the look of things, it WilL fall back to $ 10 which is double top's target aswellas support at this area from prior high's
I keep my technical analysis simple for the most part. Check out my articles on Seeking Alpha for fundamental and technical analysis! You can follow me on Twitter @CircaAlpha and on Stocktwits @Circa! Click on the charts for a larger view: Bank of America (BAC) Yesterday I entered into a short position at $11.51 because shares traded below the 10 day and 20...
I keep my technical analysis simple for the most part. Check out my articles on Seeking Alpha for fundamental and technical analysis! You can follow me on Twitter @CircaAlpha and on Stocktwits @Circa! Click on the charts for a larger view: Bank of America (BAC) Yesterday I entered into a short position at $11.51 because shares traded below the 10 day and 20...
Daily still looks short good bounce from trendline and 50% retracement from last bull trend
$BAC still think it has lower to go
Mid Nov we posted a bullish triangle that had a potential target price $10.5 the price completed that measured move, now what do we expect? Price has been consolidating last few sessions for a possible upside breakout but downside move is also highly likely. Watch 18ema which now acts support, if it bounces add more with target price $11.50 stop loss 9.95
The moving averages are very bullish on this stock. In addition this stock broke through the resistance line, which is very bullish sign. This stock looks very bullish for long term investment. JAN, 1, 2013 (CLOSED PROFIT)
Second entry short at the top of 9-10 trading range should bring it down to the new test of the bottom very quickly. Looks to me like a pretty reliable trade here
Is there anything fundamental that would make BAC break 10? I dont know But there is significance resistance there, and RSI says that it is a little bought(but not a sell yet). Sell at 10, Stop @ 10.5 Target@ 8.5 3:1 upside.
68 Billion is cheap market cap for Bank of america, with deviden yield and better performance from the recovering real estate market we will see higher prices in this stock.
Last 2-months price consolidated and looks ready to breakout upside but volume was light, which is a concern. Buy point is March high with a possible target price of $11.42 with stop loss of recent swing low $8.8 area.
Technical Analysis 11/24/2012 Bank of America $BAC mystockusa.com #stocks
This 9$ level presents more shorting opportunity if it starts breaking down. The monthly chart looks scary for Longs. This position looks scary either direction and will need some intra-day confirmation. Nonetheless, it does meet 2:1 RR criteria. Options Play: Jan Puts, Strike: 10 Option Price at time of chart creation: $0.99