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Elliott Forecast
Hendra Lau

Bank of America ( $BAC) Found Buyers at the Blue Box Area as Expected.

Bank of America ( $BAC) Found Buyers at the Blue Box Area as Expected.

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Hello everyone. In today’s article, we will look at the past performance of the 1H Hour Elliott Wave chart of Bank of America Corp. ($BAC). The rally from 1.17.2024 low at $31.28 unfolded as 5 waves impulse. So, we expected the pullback to unfold in 7 swings and find buyers again. We will explain the structure & forecast below:

7 Swings WXY correction

 

$BAC 1H Elliott Wave Chart 4.11.2024:

Here is the 1H Elliott Wave count from 4.11.2024. We expected the pullback to find buyers at the blue box area at 36.26 – 35.25 in 7 swings.

$BAC 1H Elliott Wave Chart 4.15.2024:

Here is the latest 1H update from 4.15.2024 showing the bounce taking place as expected. The stock has reacted higher from the blue box area allowing longs to get risk free. The stock is expected to remain supported with a target area towards $39 – 40 before another pullback can happen.

 

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Source:-forecast.com/stock-market/bank-america-corp-bac-found-buyers-blue-box-area-expected/

16/04/2024 2 EN
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Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients. ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 52 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Weekend Webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions. 

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Hendra Lau

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