BAC expected to rise towards $37

15 Jul 2022BAC stock price is trading at a major Fibonacci retracement level. Price is in bearish trend making lower lows and lower highs. There is no sign of a reversal yet. The RSI is not making lower lows, producing bullish divergence signals. I believe that the most probable scenario is for BAC stock price to form a bottom and signal a reversal to the upside soon, this expected reversal will eventually push price towards $37. I would certainly NOT be bearish BAC at current levels with current technical conditions. I would be looking entry points for long positions in order to trade the bounce.

22 Ogo 2022

Dagangan ditutup: sasaran tercapai

Target area reached. Bulls want to see a higher low formed now in order to move towards $39.