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Nathaniel Mathe...'s  Instablog

Nathaniel Matherson
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I'm an active investor and trader with 4 years experience. I use a combination of Fundamental and Technical Analysis. I live in the Bay Area, California but attend college at the University of Delaware. I grew up in the Bay Area in California about 45 minutes from San Francisco. This year I... More
My blog:
Circa Alpha
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  • Bank Of America Trade Update 0 comments
    Jan 30, 2013 5:15 PM | about stocks: BAC

    I keep my technical analysis simple for the most part. Check out my articles on Seeking Alpha for fundamental and technical analysis! You can follow me on Twitter @CircaAlpha and on Stocktwits @Circa! Click on the charts for a larger view:

    Bank of America (BAC)
    Yesterday I entered into a short position at $11.51 because shares traded below the 10 day and 20 moving averages and I believed we were in the process of setting a lower high. Today shares were down 0.96% and closed the day at $11.38. I placed my initial target at $11.00 because shares bottomed at this level on January 18th. I now am watching for a break below $11.00 to signal a fill of the December 17th gap to $10.65. I am keeping my stop loss at $11.75 which would invalidate my thesis. However, if shares trade down to trend line support I would be inclined to start a long position. You can view my post from yesterday here.

    Disclosure: I am short BAC.

    Stocks: BAC
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