TRADING TIPS

Is BAC a Buy Here?

Hubert Senters here. Let’s take a look at Bank of America. Obviously, they report earnings and they surged over 4 percent into overhead resistance of the cloud. So when you’re doing earnings and stuff like this just note we’re supporting resistance it’ll help you out. You can also see that there’s a nice little trend line. I’m just going to point it out to you out there. There is the trend line it has broken it clearly but you’ve got overhead resistance. So I personally wouldn’t get long Bank of America until it closed above $30 so right here’s the cloud and you can see that’s going to be $299.93 so I’m just going rounded up to $30 right here. I’m just eyeballing it. So I would need anywhere from one to three bars to close above this cloud before myself personally would get long Bank of America. It’s not a bad move and it was low here. You had it closed above the turning line, standard line and then the cloud but it just needs to get through that cloud in order for me to get bullish on Bank of America anyway. Hope that helps. And I will see you on the next video. Hubert.

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