This is the 2nd hour in a row bac has seen its price head down.
This move happened on lower volume, as yesterday’s volume was down 18.63% from the day before — and down 6.35% from the same day the week before.
The change in price came along side change in volume that was down 56.09% from previous day, but up 10.41% from the tuesday of last week.
Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
This is the 2nd straight hour ba has seen its price head down.
Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.
Buffet is loaded, he can gobble up the shares in minutes.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
As long as the global economy remains constrained, demand for energy is going to be weak and volatile," he projected.