Sitting on a Cash Pile 6.0? A Great Bank Stock to Buy on a Trump Victory

Sitting on a Cash Pile 6.0?  A Great Bank Stock to Buy on a Trump Victory

#BoA #PresidentTrump #win #victory

$BAC

BofA is a Great Stock to Buy on a Trump Victory”— Paul Ebeling

Note: Stock and options volume are up on Bank of America Corp (NYSE:BAC) as they were this time in Y 2016.

For those of who want to generate additional returns by front-running the November election, know that the prospective winners under a 2nd Trump Administration are a different mix than those that might prosper if Hiden Joe Biden comes to the Top office.

BAC broke out on 17 September at 25.35, and has not yet confirmed, the stock closed Friday in NY at 25.36 within its 52 wk trading range of 17.95 – 35.72 and 1 of our Key indicators turned Very Bullish on Friday’s Doji.

BAC support is Strong at 24.90 and light to 28.59, a close and hold over 26.76 augers a mover back to the 52 wk high at 35.72 and higher on a Trump victory on 3 November.

Republican administrations are traditionally friendlier to large banks than Democratic ones. And President Trump’s slashing of corporate tax rates in the Tax Cuts and Jobs Act was/is very beneficial to banks.

So, BofA likely will respond well to a Trump Presidential victory, as it did in Y 2016.

Note: Bank of America is a good looking stock at current prices. It yields just shy of 3% in dividends, and Warren Buffett recently Topped up his already-large investment in BAC with an additional purchase of $800-M in BAC stock.

Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small- and middle-market businesses, institutional investors, large corporations, and governments worldwide.

It operates in Consumer Banking, Global Wealth & Investment Management Global Banking, and Global Markets segments.

The Consumer Banking segment offers traditional and money market savings accounts, CDs and IRAs, non interest and interest-bearing checking accounts, and investment accounts and products; and credit and debit cards, residential mortgages, and home equity loans, as well as direct and indirect loans, such as automotive, recreational vehicle, and consumer personal loans.

The GWIM segment offers investment management, brokerage, banking, and trust and retirement products; and wealth management solutions, as well as customized solutions, including specialty asset management services.

The Global Banking segment provides lending products and services, including commercial loans, leases, commitment facilities, trade finance, and real estate and asset-based lending; treasury solutions, such as treasury management, foreign exchange, and short-term investing options; working capital management solutions; and debt and equity underwriting and distribution, and merger-related and other advisory services.

The Global Markets segment offers market-making, financing, securities clearing, settlement, and custody services, as well as risk management, fixed-income, and mortgage-related products. As of 7 May 2020, it served approximately 66-M consumer and small business clients with approximately 4,300 retail financial centers; approximately 16,900 ATMs; and digital banking platforms with approximately 39-M active users.

Bank of America Corporation was founded in Y 1784 and is HQd in Charlotte, North Carolina.

Have a healthy holiday weekend, Keep the Faith!

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Paul Ebeling

Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he it the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.