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Bank of America Lost 30%, but Sent a Warning First

The coronavirus panic coupled with the Fed’s emergency 50 basis points rate cut sent bank stocks plunging very quickly. Bank of America, one of the “too big to fail”, is down almost 30% from its December 2019 high. However, BAC is in a much better financial shape than ten years ago. In fact, the company…

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Bank of America Breaking Out of a Triangle Pattern

We last wrote about Bank of America in January, shortly after the company’s Q4 2018 report. The market was in a positive mood, sending the share price up to $28.44 at the time of writing. In addition, our Elliott Wave analysis of the situation indicated more strength can be expected going forward. Nine months later…

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Bank of America Riding the Earnings Wave… For Now.

The last time we wrote about Bank of America was on October 18th, 2018. The stock was trading below $29 a share, down from the $33.05 top reached in March. The bank had just reported a record first quarter, but the stock price was falling nevertheless. So in order to make sense of it, we…

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Bank of America Slides Despite Record Quarter

Bank of America reported its Q3 results on Monday. To say that the mega bank’s performance was good would be an understatement. Record net income of $7.2 billion translated into EPS of $0.66, 11% return on equity and 1.23% return on assets. The latter is a pretty solid result for a bank with $2.34 trillion…

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BAC Stock on Its Elliott Wave Path to the North

A little over two months ago, on July 2nd, we published an article about Bank of America stock. The price was then hovering near $28.20 a share, following a decline from as high as $33.05 in March. Fortunately, despite the 15% plunge, the Elliott Wave Principle (and the company’s fundamentals, by the way) suggested BAC…

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Bank of America Deserves a Higher Valuation

Bank of America is having a great year so far. The mega bank beat earnings and revenue estimates in the first quarter and was one of the top performers during the Fed’s recent stress test, which allowed it to boost its dividend by 25% and further support its share buyback program. In addition, the company…

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BAC Stock Headed to $40 a Share

After two consecutive years of spectacular gains, which nearly tripled Bank of America’s market cap, the too-big-to-fail financial institution is having a slower, but still strong start of 2018. BAC stock is up 5.22% year to date, easily outperforming the S&P 500. Besides, analysts’ estimates for the company’s future earnings are constantly improving. As of…

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BAC Stock is Everyone’s Favorite Now

Bank of America Corp. had an incredible 2017. Shareholders saw BAC stock rise by as much as 36% on the back of strong revenue and earnings growth. This, in turn, led to even higher expectations for the next couple of years with analysts predicting EPS of $2.40 in 2018 and $3 in 2019. In short,…

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Bank of America and the So-Called Trump Rally

Bank of America stock proves that you cannot rely on politics for your investments Our previous article on the subject, titled “Bank of America: A Good Long-Term Bet?” was published on August 24th, 2016. Two and a half months before Donald Trump’s election for president, while the stock was trading near $15.30, the Elliott Wave Principle…

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Bank of America: A Good Long Term Bet?

Bank of America Corp. was one of the most severely damaged stocks during the 2007-2009 crash. Shares plunged over 95% from above 55 dollars a share in November 2006 to as low as 2.53 in February 2009. The stock has been recovering ever since, but currently slightly above 15.30, it is still nowhere near the pre-crash levels. What…

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Bank of America Twenty Months Later

Bank of America Corp. stock closed at 14.42 yesterday. In 2015, the stock suffered a sell-off from as high as 18.42 dollars a share down to 10.94 by February, 2016. Could this slump be expected and is the current recovery going to continue? On January 8th, 2015, nearly twenty months ago, we published “Bank of…

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Bank of America Set to Extend Decline?

The Elliott Wave Principle could be very useful to investors, especially because of its ability to identify market tops and bottoms. Anyone with enough experience in the markets has been caught buying when he should have sold and selling when he should have bought. The ability to recognize the Elliott Wave Patterns definitely reduces the…

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Why Is Soros Selling This? Chapter Three

In the first two chapters of “Why is Soros selling this?” we investigated two of his major recent sells from an Elliott Wave point of view, in order to see if there are any touching points between Mr. Soros’ expectations and our own. We decided to conduct this experiment in attempt to form an independent…

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