Wednesday, July 30, 2014

Bank of America Corporation (BAC)

Bank of America (BAC) daily chart
Stuck in a real tight channel, I hope we are NOT facing an inverted ABC pattern (see what the pattern means on the right hand side of this blog)
Pay also attention to the EMA's settings on the top left of this chart
Light green arrow scenario is a possibility if price manages to break above 16, 16.5 in the next few days.
Light blue arrow scenario ? Gut feelings say no, unless we get some real bad news from the financial sector


yvan said...

C'est une tendance en ligne typique! La sortie par le bas du canal étroit indique un plus haut à venir dans 70% des cas.
Ensuite seulement cela pourrait plonger.

Moise Levi said...

Oui Yvan, exact :)))