Bank of America Trading Analysis (28/08/2024)

The overall trend is descending. The stock is trading in the range between 365 and 135 ЕМА on the H1 timeframe. The ascending wave structure is truncated. There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the oversold condition.

Trading idea:

• Sell when the formation of the descending wave structure begins, when the wave A breaches the sloping channel of the ascending truncated structure.
• Stop-loss at 40.20.
• Price targets at 38.00 and 37.00.

#boa #bankofamerica #stock #stocktrading #tradingstrategies #tradingmt5