Bank Of America (BAC) Will Drop Hard (90%+ Crash?!)

The chart for Bank Of America (BAC) is looking bad long term, there are many signals pointing to a very strong drop.

The last time this company had a crash, it shredded over 95% of its value... The same might happen again.

Let's take a look at some of the signals:

• Let's start by looking at Divergence, you can spot this marked with a light blue line on both the MACD and RSI. These divergences work strongly on conventional assets, they always confirm. We have bearish divergence on both indicators.
  
  
• I marked a rising wedge in purple which is also bearish. You can expect the asset value to move a bit longer within the wedge before breaking down; if it does. Probabilities are really high...
  
  
• EMAs are going to be challenged now, this is our main support (22.33).
  
  
• The RSI is super bearish.
  
  
• Volume has dropped massive while price moving up.
  
  
• If you were to use this information to trade, a break and close above 28.45 would be a great stop loss. As for the way down, 13.62 can be your main target and more after/if this level breaks.
  
  
• ...
  

This one is about to crash really hard... Just like it is happening with Apple, Google, SPX, DJI and the rest.

Thanks a lot for reading.

Namaste.

Yorum:

The drop is starting now...