BAC Support at Lows
Long idea.
BAC is a stock that has been negatively affected by the recent issues with regional bank stocks. While the bank seems fundamentally sound, I think there's an opportunity to go long for mean reversion.
Has been in a daily downtrend since the beginning of March and has hugged the 2sd 20D. However, price has stalled 26-28 and is seeing some high volume, implying big buying at these levels. A distribution has been built here at the lows, and R:R for long punt down here feels like risk is to the upside.
Buy targets are 27-28 / 26.
Profit targets are 29 / 30 / 31 / 33.
BAC is a stock that has been negatively affected by the recent issues with regional bank stocks. While the bank seems fundamentally sound, I think there's an opportunity to go long for mean reversion. Has been in a daily downtrend since the beginning of March and has hugged the 2sd 20D. However, price has stalled 26-28 and is seeing some high volume, implying big buying at these levels. A distribution has been built here at the lows, and R:R for long punt down here feels like risk is to the upside.
Buy targets are 27-28 / 26.
Profit targets are 29 / 30 / 31 / 33.
Note
Trade invalidated < 26.Transaction en cours
BAC 100 (Weeklys) 26 MAY 23 30 CALL around 6:35AM PDTNote
above is for 0.62Transaction en cours
Moving stop to BE @ 0.62 to derisk for CPI tomorrowNote
Currently up 30% @ 0.8Trade fermée manuellement
Out in full today. Trimmed 40% @ 0.9, 40% @ 1.2 and 20% at 1.01. Avg exit price = 1.04
Profit = 1.04 - 0.62 = +0.44 (+70%)
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.