Quantum's BAC Trading Guide 4/8/25

BAC (Bank of America Corporation) - Sector: Financials (Banking)

Sentiment:
--Neutral (slight bullish tilt). Pre-market options lean call-heavy, RSI likely ~48 (up from ~45 with +1.8% from $35.58 to $36.23), X posts overnight mixed—rate fears vs. recovery hopes—suggesting a bounce from $34.19 (April 4).

Tariff Impact:
--Moderate. 10% tariffs could hit loan demand (trade-sensitive clients), but BAC’s diversified revenue softens impact. Sentiment drives here.

News/Catalysts:
--Consumer Credit (April 8) key—strong data could lift BAC; X posts on banking resilience or tariff delays might boost today.

Technical Setup:
-Weekly Chart:
---HVN near $37 as resistance, weekly low ~$34 as support (April 4: $34.19).
---Sideways (8-week EMA ≈ 13-week ≈ 48-week, reflecting $35–$40 range).
---RSI ~48 (neutral),
---MACD near signal (histogram flat),
---Bollinger Bands near midline,
---Donchian Channels at midline,
---Williams %R -50 (neutral).

-One-Hour Chart:
---Support at $35.58 (prev. close), resistance at $36.68 (day high), weekly alignment.
---RSI ~50, MACD near signal (histogram flat),
---Bollinger Bands near midline,
---Donchian Channels at midline,
---Williams %R -48 (neutral).

-10-Minute Chart:
---Pre-market uptick to $36.23, 8/13/48 EMAs flat-to-up, RSI ~52,
---MACD flat near zero.

Options Data:
--GEX: Neutral (slight bullish tilt)—pinning shifts mildly upward.
--DEX: Neutral (slight bullish tilt)—call delta edges out puts.
--IV: Low—~20–25% vs. norm 25–30%, steady post-drop.
--OI: Balanced (slight call tilt)—OI leans above $36.
--Directional Bias: Neutral (slight bullish tilt). GEX’s mild upward pinning, DEX’s call delta hint at buying, low IV limits big swings, and slight call-heavy OI nudges up—neutral with a bullish edge.

Sympathy Plays:
--JPM (JPMorgan Chase): Rises if BAC gains, falls if BAC fades.
--WFC (Wells Fargo): Gains with BAC upside, drops if BAC weakens.
--Opposite Mover: BAC rallies → cyclicals like ALK fade; BAC dumps → JPM/WFC soften.

Sector Positioning with RRG: --- Financials (Banking).
--RRG Position: Improving Quadrant. BAC’s bounce from $34.19 lifts it vs. XLF.

Targets: Bullish +2% ($36.95, hourly resistance); Bearish -2% ($35.50, hourly support).