BAC - the shining star of the US financials

Along with the main market, Bank of America (BAC) opened lower, but there was a powerful swing upward, with the stock settling +2.1% at $26.79. M/t bullish, with soft target of the $33s, and a grander target of 40/45 by late 2019.


BAC daily

BAC monthly

Summary

*there was notably huge option call activity in BAC today, within the Dec' and Jan' $28s. 
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Suffice to add, having cooled from a late Oct' high of $27.98, today's low of $25.81 likely marks a key floor.

Most notable, today's settling daily candle was of the bullish engulfing type. This was a particularly strong one, and it bodes for renewed upside into next week's Thanksgiving break.

I have been hyper bullish BAC since the key breakout in Nov'2016. Next soft target are the $33s, with a grander target of 40/45. Clearly, the latter will require US int' rates at least 2.50%, if not >3.00%. I recognise many will be dismissive of rates reaching those levels before the next recession.

yours... bullish higher rates, and thus.. bullish financials.