Bank of America Breaking Out

Posted on November 19, 2013 by Stock Trade Journal

Bank of America (BAC) is breaking out off a trading range that started back in July. While there is some supply ahead and possible choppy trading action, it has the possibility to move to $20. It is currently trading at $15 and change. With a Stop just below $15 it gives a Reward / Risk of 25:1. Also, consider that the stocks in the financial sector are showing relative strength to enhance the upside probability.

About Stock Trade Journal

The information in this blog is not investment advice. Please consult a financial advisor before investing. I have been trading stock since the 1990's and survived the .com crash. I am developing software applications to help me trade better and now I am making them available to help other traders. This blog is also a way to share my experiences and observations in the market.
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