South...So many people talk about buying BAC made me want to buy them too, so I went to look at the chart to see if I should...And from the chart perspective, this stock up trend had ended and with high probability will go lower in the near term...Maybe people has some inside information... Just my opinion..
The world revolves around cash, and BAC is an epicenter. BAC has $200,000,000,000 in cash aka $200 billion. They are top 3 in every sector they are in. Trade a few bucks either way now, they will be double in a year, and quadro 2 to 4 years down the line as the profits flow in. Seriously, they post profits in the BILLIONS on a quarterly basis, please, it's going up.
Yeah...and you know what happens when everyone "knows" that it will go back to the $12's before the earnings run up...IT DOESN'T!....It just goes on up and leaves a bunch of people on the sidelines..If you think this is going to 14-15 short term why wait for your stupid chart analysis to buy 20 cents cheaper. You are going to miss out..Target tomorrow $13.35 at least.
8$ ??? I see it pulling back to the low 12 area and then retesting the 50 day moving average at 13.45 again. This is very clear if you look at a basic chart at stockcharts.com. I would be very interested to see a chart indicator that shows it dropping below the 200 day ma which it would have to do to hit 8.
it can go as low to that 8 level but who know...no one can really tell...what the chart tells right now with high probability that the up trend had ended..if u want to short, then short and put a stop order at 14.10...the only thing u can do is protect ur had earn money...the rest is nobody knows....