Watch Your Moving Averages With Bank Stocks! | $BAC Stock Analysis Barry Seal [dhIUPnSmG75]
Tag: #Barry Seal, #lamar odom, #droit de douane, #streamed
Bank of America stock has been one of the most requested stocks for us to review and ultimately when it comes to their fundamentals they are a little trickier than other stocks.
Same goes from a technical analysis perspective. You need to watch their moving averages when it comes to these stocks. A good rule of thumb is as I share in the video is that where the banks go the market tends to go.
There has been some great buying volume over the last few weeks with $BAC in the market and its teetering on the line of being a "power stock". The thing about them though is that their resistance is weighing heavily on the stock making it not so easy for it to break through.
Even when filming this video on March 18th after the market closes you dillon brooks can see that the stock began to break through and pulled back by the closing bell.
On Thursday they seemed to have a great run but by noon that is where they took a change. There was a rather large pullback intraday where there was likely news that broke that caused the stock to change its course.
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