Trade Idea for Bank of America Corp. (NYSE)

Bank of America Corp. (NYSE)

#BAC

The trend is bullish. The stock is trading within the range of the 365 and 135 EMAs. A bearish truncated wave structure has completed with a breakout of the descending channel. The Awesome Oscillator shows bullish divergence, while the Stochastic Oscillator signals oversold conditions.

Trading Idea:

Buy on a breakout above 52.27.

Stop Loss: 51.30.

Target levels: 53.36; 56.20.