Bank of America Wave Analysis – 6 October, 2022

• Bank of America reversed from round support level 30.00

• Likely to rise to resistance level 34.00

Bank of America previously reversed up from the round support level 30.00 (which stopped the earlier extended downward impulse wave (C) from the middle of March).

The upward reversal from the support level 30.00 stopped the earlier medium-term ABC correction (2).

Given the strength of the support level 30.00, Bank of America can be expected to rise further toward the next resistance level 34.00.