Trading Bank Of America Corporation $BAC With Integrated Risk Controls

March 10, 2023, 08:04 am ET, BY Thomas H. Kee Jr- Editor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Price matters most to #makingmoney in the #stockmarket. Celebrating 20 years, Stock Traders Daily provides the tools that help you develop investment strategies, and this is a good example. When we couple this with our market based analysis, the probabilities of going with the flow increases, and that is material over time. The Bank Of America Corporation (NYSE: BAC) report below can help you, but we have more details too. The trading plans for BAC, and the other 1000+ stocks we follow, are updated in real time for subscribers, but this report is static. If you want an update, or a different report, please get one here Unlimited Real Time Reports.

Longer Term Trading Plans for BAC

• Buy BAC slightly over 27.98 target 32.00 stop loss @ 27.9 Details

The technical summary data tells us to buy BAC near 27.98 with an upside target of 32.00. This data also tells us to set a stop loss @ 27.9 to protect against excessive loss in case the stock begins to move against the trade. 27.98 is the first level of support below 30.41 , and by rule, any test of support is a buy signal. In this case, support 27.98 would be being tested, so a buy signal would exist.

• Short BAC slightly under 32.00, target 27.98, stop loss @ 32.09 Details

The technical summary data is suggesting a short of BAC as it gets near 32.00 with a downside target of 27.98. We should have a stop loss in place at 32.09though. 32.00 is the first level of resistance above 30.41, and by rule, any test of resistance is a short signal. In this case, if resistance 32.00 is being tested, so a short signal would exist.

Swing Trading Plans for BAC

• Buy BAC slightly over 32.03, target 33.38, Stop Loss @ 31.94 Details

If 32.03 begins to break higher, the technical summary data tells us to buy BAC just slightly over 32.03, with an upside target of 33.38. The data also tells us to set a stop loss @ 31.94 in case the stock turns against the trade. 32.03 is the first level of resistance above 30.41, and by rule, any break above resistance is a buy signal. In this case, 32.03, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short BAC slightly near 32.03, target 27.98, Stop Loss @ 32.12. Details

The technical summary data is suggesting a short of BAC if it tests 32.03 with a downside target of 27.98. We should have a stop loss in place at 32.12 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 32.03, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for BAC

• Buy BAC slightly over 31.21, target 32.03, Stop Loss @ 31.14 Details

If 31.21 begins to break higher, the technical summary data tells us to buy BAC just slightly over 31.21, with an upside target of 32.03. The data also tells us to set a stop loss @ 31.14 in case the stock turns against the trade. 31.21 is the first level of resistance above 30.41, and by rule, any break above resistance is a buy signal. In this case, 31.21, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short BAC slightly near 31.21, target 27.98, Stop Loss @ 31.28. Details

The technical summary data is suggesting a short of BAC if it tests 31.21 with a downside target of 27.98. We should have a stop loss in place at 31.28 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 31.21, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

BAC Ratings for March 10:

Term →	Near	Mid	Long
Rating	Weak	Neutral	Weak
P1	0	0	27.98
P2	31.21	32.03	32.00
P3	32.46	33.38	36.07

Support and Resistance Plot Chart for BAC

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