BAC Major Trend Break + Bear Flag

שלשוםBAC recently broke below its major uptrend from the 2023 low. It's been consolidating below and forming a a bear flag. On top of bad technicals, Buffet is unloading his stake like there is no tomorrow. The balance sheet looks horrible as well. These are not reasons to buy short dated puts. This is one you'll want to let play out over time.

Either way, if it does break below this bear flag we should see continuation down to the prior swing low around 35. Next target after that would be the flag pole target and 2021 lows which is also a psychological number around 30. That would be a huge drop if it gets there, it would take some time most likely. If it can't hold there, final long term target is going to be the 2023 low around 25 for me. My targets turned out to be about every 5 dollars down, interesting and that makes it it pretty easy to follow as well.