BAC (June 9)
BAC trying hard to re-enter the upper half of the chart source: stockcharts.com
BAC trying hard to re-enter the upper half of the chart source: stockcharts.com
BAC trying to re-enter the “box” (lower boundary $14,50-$15,00) the breakdown from which led to measured target of $11 back in February. source: stockcharts.com
2-year old BAC consolidation at the highs will not last that much longer. This is one of the new bull market leaders. BAC (3 years) Source: stockcharts.com
BAC shares fighting with major long-term resistance. Neutral stance. BAC (1.5 years) Chart courtesy of http://www.stockcharts.com Please read the Disclaimer!
Closing the week on a 2-month low speaks for a continuation of the downmove and a highly likely retest of this year’s low @ 14.92. Bearish with a stop-loss @ 15.70. BAC daily chart (3 months): Chart courtesy of http://www.StockCharts.com Please read the Disclaimer!
Thursday’s spinning top gives bulls some hope for an upcoming downtrend reversal. A close above $15.80 is needed for the trend to turn upward. Otherwise a retest of this year’s low @ 14.92 is very likely. BAC daily chart (3 months): Chart courtesy of http://www.StockCharts.com Please read the Disclaimer!