BAC continued the upward movement this morning and now is pulling back a little and may create a buying opportunity. IMO: it will be a good hold til it at least it hits 18 my mid term target or a good long position
As I put a target price of $18 on BAC, I think it is attainable in the midterm with Oil normalizing and other factors to fall in place. Once the Fed starts raising rates the target price will be much higher and I would have to post a 10 year chart. This one of my longs after swapping horse's with C. Now $2.89 from target price at 15.11, but who's counting
This is my biggest long position in my small portfolio (both in amount of money and diversification ). I need BAC to be above $13 USD to be profitable because of the exchange rate for me. I'm thinking about starting/learning how to trade using this stock since I can make decent profits with small positions. To me, it seems like there's a chance for a week long trade for as it might bounce between ~$14 (20ma) and ~$15.50 (200ma).
Today's action is what I was talking about as the hike is on only the table for June. Should the Fed not follow through, the financial's will drop back down but eventually it will happen. This is why I loaded up on financial's with BAC and VLY. I finished buying BAC some time ago and have been adding to my position on VLY on every decent pull back..For those that do not have any financials in their portfolio you are going to missing some big rewards. As I used to say when I was buying LVS between 2.50 and 10, these sharers are in the vault. Bank Of America, Citigroup, JPMorgan Rally As Fed Minutes Show June Hike On Table http://www.investors.com/news/banks...-rate-hike/?ven=YahooCP&src=AURLLED&ven=yahoo
Algos in control. Bull flag forming on 1 month. Going to move up substantially in the next day or so. Target $15.30 by weeks end.
Today’s Hot Buzz: Bank of America Corp (NYSE:BAC) The shares of Bank of America Corp (NYSE:BAC) currently has mean rating of 1.9 while 15 analyst have recommended the shares as ‘BUY’ ,10 recommended as ‘OUTPERFORM’ and 6 recommended as ‘HOLD’.The rating score is on a scale of 1 to 5 where 1 stands for strong buy and 5 stands for sell The mean price target for the shares of Bank of America Corp (NYSE:BAC) is at $17.35 while the highest price target suggested by the analysts is $20.00 and low price target is $15.00. The mean price target is calculated keeping in view the consensus of 30 brokerage firms. The company’s mean estimate for sales for the current quarter ending Jun 16 is 20.96B by 15 analysts. The means estimate of sales for the year ending Dec 16 is 83.46B by 15 analysts. The average estimate of EPS for the current fiscal quarter for Bank of America Corp (NYSE:BAC) stands at $0.37 while the EPS for the current year is fixed at $1.32 by 28.00 analysts The next one year’s EPS estimate is set at 1.58 by 27.00 analysts while a year ago the analysts suggested the company’s EPS at $1.32. The analysts also projected the company’s long-term growth at 7.41% for the upcoming five years http://cwruobserver.com/2016/05/25/todays-hot-buzz-bank-of-america-corp-nysebac/
Based on what WFC has said, and without reading the article you posted, I'm guessing EPS will take a hit due to bad energy loans. Not sure if the analysts priced that in.
With futures looking down, BAC was trading down in pre-market, now for some reason it has reversed directions on strong volume
This probably why BAC was up in pre-market this morning. Trading slightly down in with down markets. Will probably head up when markets recover some Bank of America CEO says trading revenues on track for growth June 2 (Reuters) - Bank of America Corp is on track for mid-single digit revenue growth in its trading businesses in the second quarter compared to a year ago, according to Chief Executive Brian Moynihan. Speaking at an industry conference Thursday, Moynihan said fixed income revenues, which account for about two-thirds of the trading business, are up, while equities, which account for a smaller portion, are down so far in the quarter. http://finance.yahoo.com/news/bank-america-ceo-says-trading-125752268.html
With BAC getting beat up today I filled near the LOD for the JAN 19, 2018 17.00 CALLS. I have another tier ready to for next week if their is a continuance of the drop
Yeah, with 595 days to expiration I would think the Fed will have had a number of rate hikes by then. I think the calls have the potential to be a home-run. Trading ahead of the curve
If you are counting on the rate hike, why not buy the sector? Presumably, rising interest rates would be a giant tide to lift all boats...
Good question rolexian. From my research BAC will be leading the pack when the rate hikes take place. Aside from the rate hikes it was reported they are on track for mid-single digit income growth in its trading businesses in the q2, YOY. Either choice for the Sector or BAC is good
