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Bank of America Corporation Message Board

  • flumoxed11 flumoxed11 Jan 28, 2012 2:26 PM Flag

    $30 for BAC in 2012

     

    very possible..twice Richard Bove's target.

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    • If you look at the weekly chart of BAC

      March 6th,2009--> Bottom at $3.61
      Aug 28,2009 -----> $12.98
      April 23, 2010--->Top out at$18.23

      Nov26,2010-------> $11.12
      Jan14,2011--------> $15.15
      Dec26,2011------->Bottom out$5.20

      So, on the weekly chart, BAC actually showed a double bottom pattern, the second bottom is higher than the first one , and the first peak was at $18.23 on April 23, 2010, and the second peak may be hit on Jan of 2013 right after the election and the second peak can be (5.2/3.61)*18.23 =$26, do not forget this is the election year , the medias will do everything to hype the market and the wall street stock market rescue team will do everything to pop the price , and generally that start to work at the end of the market

 
BAC
14.88+0.18(+1.22%)May 27 4:01 PMEDT