Shares of Bank of America Corp., the largest financial conglomerate in the US, are moving within the corrective trend at 32.00.
On the daily chart, the price is within the global Expanding formation pattern with the boundaries of 28.00–38.00 and is actively developing another downward wave.
The four-hour chart shows that the current wave is the fourth within the figure, which practically guarantees that it will reach the year’s low of 29.30.
Technical indicators are a sell signal, reversing downwards: fast EMAs on the Alligator indicator crossed the signal line downwards, and the AO oscillator histogram forms new bars in the sell zone.