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Bank of America Corp., Elliot Wave Analysis

11/1/2022 10:09 AM

The price is in a correction, a fall is possible.

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 formed, and a local correction is ending to develop as the wave (B) of 2. Now, the wave C of (B) is developing. If the assumption is correct, the price will fall to the area of 26.32–20.82. In this scenario, critical stop loss level is 42.27.




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