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Bank of America Corp., Elliot Wave Analysis
8/9/2022 11:58 AMThe price is in a correction and may grow.
On the daily chart, the first wave of the higher level 1 formed, and a downward correction develops as the second wave 2. Now, the wave (А) of 2 has formed, within the fifth wave of the lower level 5 of (А) has developed, and a local correction is developing as the wave (B) of 2, within which the upward wave C of (B) is forming. If the assumption is correct, the asset will grow to the area of 39.30–41.45. In this scenario, critical stop loss level is 29.75.
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