Look At The Bullish Gartley On BAC

  • January 17, 2005
  • Derrick Hobbs

Bank of
America (BAC)

 

This stock has been in a nice
uptrend on the daily chart, and is approaching the bottom of its uptrending
regression channel (around $44), as well as the 200 day simple moving average
(43.41) and a big Fibonacci price support zone from 43-44.50.  Mix these support
levels with a Bullish Gartley pattern that is now complete, I’m ready to look
for a trigger (I like to use daily reversal candlestick patterns for triggers)
to take long into this stock.  An initial stop loss on entry would be around
42.87 for me.

 

Good day all!

 

Derrik