Tag Archives: technical

Technical Indicator: BAC

You can see the head and shoulder pattern labeled on the chart.  This head and shoulders pattern is a bearish signal as there have been two lows with support (the 1st shoulder and head) and the 2nd shoulder is slightly higher than the first, indicating an upward movement.  With the break in the neck today, I hope to see a strong bullish movement in the next several days or weeks, but I am cautious when I look at the Relative Strength Index (RSI) below.

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