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Bank of America

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BAC trade ideas

Bank of America looking for support at gapA red, short term counter trend correction arrow came close to the high for Bank of America stock. The ensuing pullback has shown some weakness in price as the GoNoGo Trend has painted a string of paler aqua bars. Price fell into the gap yesterday but rallied to close at the top of the gap. This area (highlighted by a horizontal channel) should act as support.
The GoNoGo Oscillator, has fallen to zero as momentum has cooled and is now riding the zero line. If the “Go” trend is healthy, it should find support here. If it rallies back into positive territory expect the trend to continue to test $34.
NYSE:BAC
by GoNoGoCharts
2
BACBAC, 23JAN21, 1D Time Frame, 1-2 weeks horizon. BAC has been on a bull run the past few weeks where price action has been respecting the 21ema. At this current time, price is at the 21ema and about to touch the trendline and also at the 61.8% fib level. I anticipate a bounce from this area for another bullish move. MACD lines pointing down but over all trend is up while the histogram shows lesser momentum on the last swing high (a sign of divergence or consolidation) STOCHASTICS is pointing down but is currently at the oversold level. From here the only way to go is sideways or up. Dont forget to like and subscribe. Disclaimer I am not a registered investment advisor and do not offer investment advice and recommendation. All my post is not a recommendation, advise nor a suggestion and should not be used as a replacement for investment advice from a qualified licensed professional. All my post is for, information and entrainment purposes only. You, the reader, bear full responsibility for your own investment and trade decisions and should seek the advice of a qualified securities professional before making any investment or trade.
NYSE:BACLong
by mdd100
What's in for Bank of America after the earnings report?Today we saw the earnings report for Bank of America and it did not meet the investor's expectations. So far the earnings season (for the banks) starts a bit off. The EPS came above expectations at 0.59 versus 0.54 expected. Revenue though came in with a miss - 20.1B against 20.56B expected. The main cause for the miss cited is the COVID-19 pandemic. RSI is already crossing from overbought territory, though MACD's crossing is lagging. The histogram is showing a divergence with the price which is in line with RSI's early divergence with the price. My expectations are for a drop towards the trend line support at the $31.35 zone. A breach there may lead to a potential drop towards $30.61 and by this jeopardizing the uptrend.
NYSE:BACShort
by DailyChartist
The Laws of Supply and Demand Affects the Price MovementThe Laws of Supply and Demand Affects the Price Movement 1. When supply exceeds demand, the price is more likely to fall. 2. As the price is falling, supply will increase, and demand will decrease. As a result, the price will fall faster. 3. At valleys, demand is greater than supply; therefore, the price is more likely to increase. 4. At peaks, supply is greater than demand; therefore, price is more likely to fall. 5. As the price trends higher, demand is greater than supply; therefore, price is more likely to go higher. Thank you for reading! Greenfield Remember to click "Like" and "Follow!" Disclosure: Article written by Greenfield. A market idea by Greenfield Analysis LLC for educational material only.
NYSE:BACEducation
by GreenfieldAnalysis
BAC - Federal Reserve said Banks could resume stock buybacksLooking for a $32.30 to $31.00 pull back at most before entering. The Fed in June had put temporary caps on shareholder payouts, prohibiting them from buying back stock or increasing dividend payments. "The banking system has been a source of strength during the past year, and today's stress test results confirm that large banks could continue to lend to households and businesses even during a sharply adverse future turn in the economy," the Fed's vice chairman for supervision, Randal K. Quarles, said in a statement. JPMorgan and Morgan Stanley released statements, saying they planned to resume buybacks starting next quarter. Citi and Goldman said they intended to resume such purchases next year. Bank of America CEO Brian Moynihan has said that his company plans to buy back stock as soon as it is allowed to. The six biggest U.S. banks could buy back as much as $11 billion of shares in the first quarter under the new distribution policy, according to Bloomberg. Source "https://www.thestreet.com/investing/banking-stocks-jump-after-fed-allows-buybacks-to-resume#:~:text=The%20Federal%20Reserve%20said%20that,buybacks%20in%20the%20first%20quarter.&text=Banking%20stocks%20jumped%20Monday%20after,beginning%20in%20the%20first%20quarter."
NYSE:BACLong
by TTMTrades
4