Stock Market Viewpoint

Stock Market Viewpoint
Reading the Tea Leaves...

Wednesday, December 30, 2015

BAC the Sideways Steady Freddy

Over the past couple of years, BAC has been the slow but steady position trading stock that always manages to get from its lower channel line to its upper channel line eventually.  

click on image to enlarge

Its most recent wave up appeared to be well on its way but it stalled two thirds of the way up.  There is debate whether this is consolidation into a bull flag or BAC may actually be starting a downhill channel out of this red channel.  The weekly chart doesn't give any clue either way.

Trade well my friends


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