Report
Eric Morera

Bank of America Corp. $BAC Blue Box Area Offered A Buying Opportunity

Hello everyone! In today’s article, we’ll examine the recent performance of Bank of America Corp. ($BAC) through the lens of Elliott Wave Theory. We’ll review how the rally from the August 05, 2024, low unfolded as a 5-wave impulse and discuss our forecast for the next move. Let’s dive into the structure and expectations for this stock.

7 Swings WXY correction
$COIN

$BAC 4H Elliott Wave Chart 3.04.2025:
$BACIn the 4-hour Elliott Wave count from March 04, 2025, we see that $BAC completed a 5-wave impulsive cycle beginning on August 05, 2024, and ending on January 16, 2025, at the black ((3)). As expected, this initial wave prompted a pullback. We anticipated this pullback to unfold in 7 swings, likely finding buyers in the equal legs area between $41.79 and $38.58.

This setup aligns with a typical Elliott Wave correction pattern (WXY), where the market pauses briefly before resuming the main trend.

$BAC 4H Elliott Wave Chart 3.16.2025:
$BACThe update, from March 16, 2025, shows that $BAC is reacting as predicted. After the decline from the recent peak, the stock found support in the equal legs area, leading to a bounce. As a result, traders should get ready to go risk-free.

Conclusion
In conclusion, our Elliott Wave analysis of $BAC suggested that it could bounce in the short term. Therefore, traders should be proactive and get risk-free soon while keeping an eye out for any corrective pullbacks. By using Elliott Wave Theory, we can identify potential buying areas and enhance risk management in volatile markets.

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Source:-forecast.com/stock-market/bank-america-corp-bac-blue-box-area-offered-buying-opportunity/
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Elliott Forecast

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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Eric Morera

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