sometimes they work, sometimes they don’t …
Tag: $BAC
BAC – now that our 17 Billion dollar fine is behind us …
CLIFF NOTES: BAC (Bank of America) – not so fast. Here’s the monthly chart showing “why” BAC finally bottomed in/around 2 bucks. I see major resistance coming in 1) mirror image foldback potential, 2) daily sell signal (shown below) and 3) a monthly pattern culminating in around 21-13. Believe anything above 24 is an abomination and … that would be the “long term risk” Here’s the rub … this SELL pattern is one that should be BOUGHT for a long term run in BAC. If our mirror image foldback is correct, we’ll get a plunging low and then BUY it ….

here’s the longer term pattern:

here’s the foldback pattern that would be “perfect” to let us know where we are …

here’s where I think the “first” sell opportunity is w/ the current structure and move occurring …
