BAC potential head and shoulders pattern on daily chart - again

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Bank of America (NYSE:BAC)

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NYSE:BAC Bank of America

bac bankofamerica banks bankstocks financials financialstocks headandshoulders headshoulders

After we got a H&S pattern in 2015 whose break caused the huge sell-off in early 2016, we now have the same formation again. Watch out below if this breaks by moving below the neckline. This time we have even more solid fundamentals for BAC though, so I hope this to break and sell-off to buy with both hands later. Originally this is a short-trade set up though. Targets would be $18 and if things get uglier, lower $15. Yes, those prices seem unrealistic/dreamish or like wishful thinking for investors but totally technically speaking, they are achievable. Although I am bullish on this stock, one should never close his eyes from contrary set-ups, which I see as a potential future buying opportunity in this case.

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right shoulder still holding

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price is near neckline now

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Intraday break of neckline! This is very dangerous now.

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