Bank of America ($BAC) Perfect Reaction Lower from Blue Box Area.
@Elliottwave_Forecast：
Bank of America ($BAC) Perfect Reaction Lower from Blue Box Area.October 23, 2022ByEWFTaha Good day Traders and Investors. In today’s article, we will look at the past performance of 4 Hour Elliottwave chart of Bank of America ($BAC). The decline from 08.16.2022 high is unfolding as a 5 swings and made a lower low on 10.13.2022 which created a bearish sequence in the 4H timeframe. Therefore, we knew that the structure in $BAC is incomplete to the downside & should see more weakness in 3 or 7 swings against 08.16.2022 peak. So, we advised members to sell the bounces in 3, 7, or 11 swings at the blue box area. We will explain the structure & forecast below: $BAC 4H Elliottwave Chart 10.17.2022: Here is the 4H Elliottwave count from 10.17.2022. The decline from 08.16.2022 unfolded in 5 waves breaking below 07.14.2022 low creating a bearish sequence. We were calling for the bounce to fail in 3 swings at black ((2)) where we like to sell it at the equal legs at $35.00 with a stop at $36.93. $BAC Latest Elliottwave Chart: $BAC Latest Elliottwave Chart: Here is the 10.20.2022 4H update showing the move taking place as expected. The stock has reacted lower from the blue box to reach the 50% back from blue (B) allowing any shorts to get risk free shortly after taking the position. Elliott Wave Forecast We cover 78 instruments in total, but not every chart is a trading recommendation. We present Official Trading Recommendations in the Live Trading Room. If not a member yet, Sign Up for Free 14 days Trial nowand get access to new trading opportunities. Through time we have developed a very respectable trading strategy. It defines Entry, Stop Loss and Take Profit levels with high accuracy. Welcome to Elliott Wave Forecast! Source:https://elliottwave-forecast.com/stock-market/bank-america-bac-perfect-reaction-lower-blue-box-area/
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.
Like
Report
Login to post
No comments yet