Did You Heed Mike's Warning About BAC?
by Mike Paulenoff
May 17, 2020 • 12:00 AM EDT
This week in Mike Paulenoff's Trading Room, Mike's warning about a breakdown in Bank of America (BAC) came true.
First alerting members on May 4 that BAC was challenging its March-May support line, Mike posted again this past Monday May 11 that the stock "is about to initiate a new down-leg after completing a March-May counter-trend rally."
BAC went on to drop from $22.75 at the time to a low of $20.10 on May 14, or 11.6%, before closing the week at $21.44.
Mike Paulenoff is the author of MPTrader.com, a real-time diary of his technical analysis & trade alerts on
ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international
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