BAC – Bank of America Corp.

Last update July 23, 2019

From an Ellliott Wave perspective this counts best as completing minor-1 of intermediate-iii of major-5 of Primary III see daily and monthly chart below. The ideal target for this III wave is low- to mid-$36s, which fits with the bigger picture Fib-extensions (major and Primary) as well as the smaller (intermediate). Note this major-5 can morph into an ending diagonal, but for now I’ve not enough price data to suggest this is the case. Regardless, once green minor-1 completes I expect a minor-2 retrace to the 50/200d SMA area before minor-3 of intermediate-iii takes hold. Thus that area could be a great opportunity to go long.