BAC Keeps Reacting Higher From The Blue Box Area

This technical blog will look at the past performance of the 1-hour Elliott Wave Charts of BAC. We presented to members at the elliottwave-forecast. The rally from 30 May 2024 low unfolded as an impulse structure. Showing a higher high sequence in a higher time frame favored more upside extension. Therefore, we advised members not to sell the stock & buy the dips in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:

BAC 1-Hour Elliott Wave Chart From 6.06.2024

Here’s the 1-hour Elliott wave chart from the 6/06/2024 Midday update. In which, the short-term cycle from the 5/30/2024 low ended in wave 1 at $40.21 high. Down from there, the stock made a pullback in wave 2 to correct that cycle. The internals of that pullback unfolded as Elliott wave zigzag structure where wave ((a)) ended at $39.36 low. Wave ((b)) bounce ended at $40.14 high and wave ((c)) managed to reach the blue box area at $39.28- $38.75. From there, buyers were expected to appear looking for the next leg higher or for a 3 wave bounce minimum.

BAC Latest 1-Hour Elliott Wave Chart From 6.10.2024

This is the latest 1-hour Elliott wave Chart from the 6/10/2024 Pre-Market update. In which the stock is showing a reaction higher taking place, right after ending the double three correction within the blue box area. Allowed members to create a risk-free position shortly after taking the long position at the blue box area. However, a break above $40.21 high is yet to be seen to confirm the next extension higher & avoid deeper correction. Also, it’s important to note that with further data the pullback was adjusted to double three correction.

If you are looking for real-time analysis in BAC along with the other Stocks & ETFs then join us with a 14-Day Trial for the latest updates & price action.

Success in trading requires proper risk and money management as well as an understanding of Elliott Wave theory, cycle analysis, and correlation. We have developed a very good trading strategy that defines the entry.

Stop loss and take profit levels with high accuracy and allow you to take a risk-free position, shortly after taking it by protecting your wallet. If you want to learn all about it and become a professional trader. Then join our service by taking a Trial

Source :

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.



  • Top
  • Latest
  • Keep going! [Victory]
  • Awesome analysis