The Long Investor
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$BAC
🕑 Added 2025-04-09 14:01:14 +0000 UTCBuffett warned the market to get out of banking stocks over the last 9 months and greatly reduced his position in $BAC.
Price has already fallen from $48 to $33 today and is sitting on its own 0.618 Fib.
I have added in the larger red fib support levels which align with the 2009 low and the 2022 high to show what is the worst case scenario (or best case for some) and a price of $20 is possible here if $BAC has a full blown corrective.
For now I think it will bounce with the market back up to the blue line at $38 or just slightly above to the 50 WMA at $42 and reject before coming down to a lower low.
