$BAC
Added 2023-08-21 19:05:53 +0000 UTCIt is not just $PYPL, $SQ and $SOFI that have been struggling lately, the large banking caps have also been hit hard, likely due to the 10 yr still being high. Concerns from the global market could be playing a big part here too.
We can see that $BAC has lost this Blue line at $29.30, those who have been here for a few months will know how important it was for this to be flipped to a support line....and this happened in July.
For $BAC to lose this line again is certainly important, there is trouble in the banking sector and all charts are aligned on this in the sector.
Bear case has been entered and the bottom levels have remained on the chart but obviously pushed out further.
Let's see how $BAC handles this wedge apex.....for me, I was not a buyer here but would be attracted to buying at our Wave C and Wave 5 level at $24.
