BANK OF AMERICA CORP.: WAVE ANALYSIS

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BANK OF AMERICA CORP.: WAVE ANALYSIS
Scenario
TimeframeWeekly
RecommendationBUY
Entry Point36.02
Take Profit37.50, 39.00
Stop Loss35.52
Key Levels29.45, 30.85, 33.50, 37.50, 39.00
Alternative scenario
RecommendationSELL STOP
Entry Point33.45
Take Profit30.85, 29.45
Stop Loss34.30
Key Levels29.45, 30.85, 33.50, 37.50, 39.00

Growth is possible.

On the daily chart, a downward correction ended as the second wave of the higher level 2, within which the wave (C) of 2 formed, and the third wave 3 started. Now, the first wave of the lower level 1 of (1) of 3 develops, within which the wave v of 1 develops. If the assumption is correct, the asset will grow to the levels of 37.50–39.00. In this scenario, critical stop loss level is 33.50.

BANK OF AMERICA CORP.: WAVE ANALYSIS

BANK OF AMERICA CORP.: WAVE ANALYSIS

Main scenario

Long positions will become relevant above the level of 33.50 with the targets at 37.50–39.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 33.50 will let the asset go down to the area of 30.85–29.45.


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