Could a bull flag be potentially forming on the 3-month and 1-year BAC charts?
It seems like prices are heading slightly lower and if that's the case, it could turn into either a triple bottom or a bull flag. But given that Warren Buffett is now in BAC, could this be skewed into turning into a bull flag? What could form next?
If we get a 1-year bull flag, then my price target of $10 to $11 could be well within reach given the length of what would be the flag pole. I could either sell now and wait for the potential dip to buy back or I could just hold, wait for the potential dip and then buy more.
I'd then have to sell once the bull flag formation completes. But if it breaks above the bull flag and keeps trending, I fear I might go back to my old ways.
Self-control and being tied down by E*Trade's so-called adherence to Regulation T...
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