After recovering from a sell-off between February 2022 and October 2023, BAC’s stock is positioned for a potential breakthrough of its February 2022 high.
Buying On Pullbacks
Expectations include one more upward wave before a corrective pullback may occur, with a target of a new peak. Members are encouraged to buy on pullbacks as part of strategic trading setups. Recent trades have shown positive outcomes from identified buying zones, indicating potential upward movement towards past highs. Future price action will be monitored for further opportunities to capitalise on swings upwards.
Paul has highlighted that sentiment could shift quickly once prices begin testing resistance again, so patience is key. While prior buying opportunities have proven rewarding, market conditions should be reassessed continuously.
Monitoring Market Conditions
If history is any guide, an eventual correction will surface, though its timing remains uncertain. For now, the preference remains to engage in disciplined buying when valuations appear temporarily weaker rather than reacting hastily to short-term spikes.
As conditions unfold over the next few weeks, traders should keep a close eye on volume and underlying trends. When movement starts confirming expectations, decisions should be based on structure rather than emotion. While there’s much to consider, the patterns playing out now resemble past bullish formations that led to extended upward cycles.
