BAC is in a rising wedge, a bearish pattern, and it's ready to break down. If and when it crosses the blue dotted trend line, it will trigger that pattern and cause a major drop in price.
The RSI and MACD show strong bearish divergences, with the MACD already ticking into the red position.
If we close in the red today, it will be confirmed.
The bulls' last hope is to buy it out and return the price to the pattern
The RSI and MACD show strong bearish divergences, with the MACD already ticking into the red position.
If we close in the red today, it will be confirmed.
The bulls' last hope is to buy it out and return the price to the pattern
Consistency is the key of success....