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Bank of America Corp., Ellior Wave Analysis

9/6/2022 12:54 PM

The 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, within which the wave (А) of 2 ended, and a local correction develops as the wave (B) of 2. Now, the wave А of (B) has formed, and the wave B of (B) is developing. If the assumption is correct, after the end of the correction, the asset will grow within the wave C of (B) to the area of 37.34–39.78. In this scenario, critical stop loss level is 29.55.

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