BAC Is Accelerating to the Upside
Bank of America (BAC) shares have accelerated to the upside, rising by 54% to $50.52 from April lows, and the price action suggests further potential gains of around 15%, with a target in the $58–60 range. The upward momentum was reinforced after the stock climbed above the midpoint of its ascending channel. In June, the shares advanced 9.2% before consolidating within the $45–49 range, a phase they successfully completed before breaking out to the upside at the end of August. This breakout signals the likelihood of a continued rally. From a trading perspective, entries around $50.00–51.00 appear attractive, with upside targets set 15% higher, while a protective stop loss could be placed at $41.90.
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