Posted by: tyrannyoflogic August 8, 2011
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Not that I would buy it right this minute ....but here's what i came up with ...looking back at charts from early 2009 for BAC ...it does not even make that much sense either but here's the best i could come up with ...
the price its trading at rt now is kinda in the middle of nowhere or nothing indicative...could go either way
as far as supports and resistances .... this stock hasn't spent time in this range for much so it is hard to tell supports and resistances
only if the 6s hold , entry would be around 6.00 to 6.10 , with a stoploss that WILL execute (not just a mental stoploss) at 6.00 cuz this stock has seen 3s too ... if it goes lower you can always rebuy it at 4s or 3s
even with that i think its pretty much a gamble right now, but given it is one of the biggest banks it has got to rebound and any bigboard stock if held for a year or two is gonna give u returns even though it might be jst because of the inflation
the price its trading at rt now is kinda in the middle of nowhere or nothing indicative...could go either way
as far as supports and resistances .... this stock hasn't spent time in this range for much so it is hard to tell supports and resistances
only if the 6s hold , entry would be around 6.00 to 6.10 , with a stoploss that WILL execute (not just a mental stoploss) at 6.00 cuz this stock has seen 3s too ... if it goes lower you can always rebuy it at 4s or 3s
even with that i think its pretty much a gamble right now, but given it is one of the biggest banks it has got to rebound and any bigboard stock if held for a year or two is gonna give u returns even though it might be jst because of the inflation