http://stockcharts.com/def/servlet/SC.pn...
this stock has fallen but not really crashing...It is having trouble getting past the $9.60 resistance and then there will be another tough one at $10.00....current support is $8.60 followed by a support at $8.20-$8.30
Reaching the first support is doable and an outside chance at the second but so far I don't see a shot at $8.00 in the near future.
http://stockcharts.com/h-sc/ui?s=BAC&p=D...
this shows the share price in consolidation after the run-up at end of August. The Bollies are tightening fast. See how the lower Bollie is at $8.10...this makes sure it won't crash that low for a while if it ever happens. On the other hand $8.60 is doable but a long shot as I see it. You would have to have a sudden spike down before the BBs tighten and it better happen before the end of this week.
The Slow Sto and MACD don't indicate that will happen
http://stockcharts.com/h-sc/ui?s=BAC&p=D...
This also does not suggest a downward spike...the RSI is flattening out, the CCI is staying above zero and ADX DI+/- is spreading apart.
Conclusion:
You are wishful thinking if you think BAC is going to fall to $8.00 in the next week or so.You MIGHT get it at $8.60 I would give you a 33% chance...$8.80 should be fine.
I do think it will take another run at $9.60 and perhaps on to $10 this month...
I think even with the risk within 3-5yrs the financial sector will be doing better. This sector is undervalue and I have started invested within this sector last week. I would suggest investing within a mutual fund because of their diversification. I do not think that I would be buying single stocks within the financial sector anyway As of 4:05pm eastern standard time the fund is $8.94 per share. Why not buy into the fund now and continue to buy even if it raise or fall. If you buy 10 shares and it goes down 0.94 cent you only lose $9.40. If you buy 20 shares and it goes down 0.94 cent, you lost 18.80..Stop being cheap and buy into the fund, at the current price because the fund is being offered at a discount price. Yesterday is history and tomorrow is a mystery. Its all about what you do in the moment. It may go up and never go back down to 8.00(who knows)
Take Care
I think the stock has already bottomed out and will eventually head back up again.
no idea. i didnt even know it crashed. sorry lool
