BAC Weekly Trend Analysis: Insights into Market Challenges and Potential Downtrends.
The weekly trend of BAC has been in the Bearish zone for 7 consecutive weeks. In this zone, there's a strong downward trend with weakening selling pressure and occasional uptrends marked by stronger buying momentum. Due to these dynamics, the stock price fluctuates downward, pauses during uptrends, or temporarily rises. If it fails to enter the Bullish zone, the trend reverts to a significant downtrend, with increased selling pressure. Currently, BAC's weekly trend has shifted to a short-term uptrend this week, expected to last for about 2 weeks, but without entering the Bullish zone. Thus, a return to the downtrend is likely in 2-3 weeks, mirroring the broader 75% similarity with the US market. Any upcoming short-term highs are precarious, possibly followed by a sharp decline 1-2 weeks later. Oct 09, 2023 ◆ Closed price 26.76 2.65% ◆ Appropriate Investment Position: Bearish-Sell [Long-term strategy] ◆ This week's stock price Buy-Sell intensity analysis The curre