Hi Shoppers,

Bank of America (Ticker: BAC) has been in a downtrend since Feb. 7.

It has a hammer candle formed on Thursday with confirmation on Friday:

On Friday, BAC closed right at the 200-day moving average and the 50-day is just above at $34.49.

I will be watching for BAC to trade over that 50-day and I will be a buyer of the March 17 34.50 calls:

I think BAC can trade back up to $37 and possibly $38.40.

As I said, stay nimble in your trades. Take your profits and tighten up those stop loss levels.

Thanks for Reading … See You Next Tuesday,

Licia Leslie