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FX.co ★ BAC stock price approaching our target

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Forex Analysis:::2022-08-10T16:15:41

BAC stock price approaching our target

BAC stock price approaching our target

Black lines- trading range

Blue lines- Fibonacci extension targets

In the middle of July our analysis on BAC stock price noted that a break out was imminent and price would move higher towards $37. BAC stock price has broken out of the sideways trading range it was and is now trading close to $35.25. Short-term momentum is bullish and our first target of $37 seems highly likely to be reached in August. Second target is at $39.70. Support is at $33 and bulls do not want to see price break below this level as this would cancel our bullish view and targets.

Analyst InstaForex
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