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Bullish Coil for BAC


All of the action in Bank of America (BAC) off of the Dec 5 high at 5.95 has taken the form of a bullish coil pattern.  If accurate, this argues for upside continuation that projects next to a confrontation with BAC's six-month down trendline, now at 6.13.

A hurdle of this level should trigger upside continuation and acceleration towards 7.00. At this juncture, I am only willing to risk a break of the lowest coordinate of the coil (6.64) on an intraday trading basis.

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