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BAC Completed a Cup and Handle Model - Get Ready for a Bounce
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BAC Completed a Cup and Handle Model - Get Ready for a Bounce
The cup and handle pattern is a bullish continuation pattern.
The BAC weekly chart displays a large, rounded bottom that formed over several years, indicating long-term accumulation.
After breaking above the key resistance around $45.50–$47.00, the price pulled back to retest this zone, which is now acting as strong support.
BAC broke out in a solid way the top created on December 2021 thus indicating for signs of a stronger bullish momentum.
As long as the BAC price stays above this area, the trend remains bullish, with potential upside targets near $54.50, $60, and $65.
Support zone: $45.50 – $47.00
Targets:
$54.50
$60.00
$65.00You may find more details in the chart!
Thank you and Good Luck!
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