Bank of America Corp. (BAC:NYSE) has hit it’s breakout line and might try another run soon enough. Check out the 10 year monthly candle chart. That is one BIG +6 years ascending triangle in progress (a usually classical chart bullish continuation pattern).

bac_m

The 5 year weekly candle chart shows the two most recent test of the breakout line (resistance) at 18.50.

bac_w

Here is the zoom in on the 1 year daily candle chart. Pretty much in no man’s land. Thank goodness for the larger time frames giving me a bird’s eye view of the prevailing trend. Check out my “top to bottom approach” here.

bac_d

This is it, my alerts are set. I’ll come back to this once the 18.50 is broken. A monthly candle close above that level will give me a target of 31.

Now that would be a great comeback for the Bank of America Corp!

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