DTT Buzz
Exclusive Market Analysis, Alerts and Commentary from the DaytradeTeam trading staff
Tuesday, May 13, 2008
Make Bank on Bank of America Corp (NYSE: BAC)
Bank of America Corp (NYSE: BAC) looks promising at the moment. There is a large symmetrical triangle in the works, which indicates potential for a large move in the near future.
Short it or Buy it?
The sym tri has yet to break, so there is no clear signal with regard to what direction this stock should be played. On the 6 month chart below, I highlighted the areas that represent a bullish (buy it) and bearish (short it) breakout. Furthermore, if the price action moves beyond three quarters completion of this price pattern, the pattern will then be null and void...meaning it needs to break very soon!
I'm going to keep my eyes peeled on this sym tri. If I see a move that warrants action, I'll immediately send a trade alert to DaytradeTeam members with full details, including stop and target. If you would like to receive DaytradeTeam's trade suggestions, click here or call 866-232-9872 and request a premium Membership today!
Regards,
Nick Fenton
Sr. Trade Analyst
http://www.daytradeteam.com/
p.s. - If you prefer to take a trial before committing to the service, be sure to ask about our 14 day and 30 day trial options when you call. Again, the number is 866-232-9872...call today!
Short it or Buy it?
The sym tri has yet to break, so there is no clear signal with regard to what direction this stock should be played. On the 6 month chart below, I highlighted the areas that represent a bullish (buy it) and bearish (short it) breakout. Furthermore, if the price action moves beyond three quarters completion of this price pattern, the pattern will then be null and void...meaning it needs to break very soon!
I'm going to keep my eyes peeled on this sym tri. If I see a move that warrants action, I'll immediately send a trade alert to DaytradeTeam members with full details, including stop and target. If you would like to receive DaytradeTeam's trade suggestions, click here or call 866-232-9872 and request a premium Membership today!
Regards,
Nick Fenton
Sr. Trade Analyst
http://www.daytradeteam.com/
p.s. - If you prefer to take a trial before committing to the service, be sure to ask about our 14 day and 30 day trial options when you call. Again, the number is 866-232-9872...call today!
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