BANK OF AMERICA CORP.: WAVE ANALYSIS

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BANK OF AMERICA CORP.: WAVE ANALYSIS
Scenario
TimeframeWeekly
RecommendationBUY
Entry Point38.21
Take Profit40.00, 41.00
Stop Loss37.61
Key Levels31.75, 33.95, 36.00, 40.00, 41.00
Alternative scenario
RecommendationSELL STOP
Entry Point35.95
Take Profit33.95, 31.75
Stop Loss36.60
Key Levels31.75, 33.95, 36.00, 40.00, 41.00

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 third wave of the lower level 3 of (1) of 3 is developing, within which the wave v of 3 of (1) is forming. If the assumption is correct, the asset will grow to the levels of 40.00–41.00. In this scenario, critical stop loss level is 36.00.

BANK OF AMERICA CORP.: WAVE ANALYSIS

BANK OF AMERICA CORP.: WAVE ANALYSIS

Main scenario

Long positions will become relevant above the level of 36.00 with the targets at 40.00–41.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 36.00 will let the asset go down to the area of 33.95–31.75.


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