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BANK OF AMERICA CORPORATION COM USD0.01BANK OF AMERICA CORPORATION COM USD0.01BANK OF AMERICA CORPORATION COM USD0.01

BANK OF AMERICA CORPORATION COM USD0.01

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0Q16 trade ideas

BAC : Booking profitsBooked profit of about 19.28% on the invested capital. I do realize that there is a potential for a move of about 9% to the next key inflection levels. But considering the overall valuation of the US market and the high interest rate environment and the possibility for a recession to hit the US economy in the near future, I do expect a sell-off. So decided to cut some position and maintain some cash positions. For that reason I closed the position in this stock. Will consider a re-entry if price falls back to the low of the channel line.
NYSE:BACShort
by Sniper-Traders
BAC Analysis(Bearish Flag and Pole Pattern)!Bank of America Corporation Analysis on Daily Timeframe! Bearish Flag and Pole Pattern Formation in BAC Flag Breakdown in BAC Bank of America Corporation made Bearish Flag and Pole pattern. We can see the sharp fall in Bank of America Corporation after price made a flag and moving inside the flag. The price given a breakdown to the flag support and able to closed below it. I have marked important levels in chart which is Fib level 1.618 will be act as a possible support level(23.49). For the target I have projected the pole length from the flag breakout point so the downside target would be 19.39. Trade Psychology and Setup = Entry = One can enter after Retesting and Aggressive traders can initiate short at current level Target = Projected Downside Target Will be 19.41 Stop Loss = Above 29.55 Disclaimer = All my analysis are for Educational Purpose only. Before entering into any trade - 1) Educate Yourself 2) Do your own research and analysis 3) Define your Risk to Reward ratio 4)Don't trade with full capital
NYSE:BACShort
by Avinash9087