Bank of America is experiencing a sharp downside reversal, dropping below trendline support due to President Trump’s credit card loan cap. This suggests more weakness may be ahead, with a potential sell-off targeting the 50 area. The stock is facing resistance after surpassing 2006 highs, indicating caution. Ending diagonals signal trend exhaustion and often lead to sharp reversals. These patterns consist of five waves, with specific Fibonacci relationships. Be cautious of rebounds near the 54.50 resistance zone. For more detailed analysis and educational content, visit app.wavetraders.com.

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Read more at Barchart: Bank of America Breaks Support After Policy Shock