In Honor of Joe Granville; Volume May Lead Price for BAC

Arthur Hill
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com

Bank of America (BAC) hit a 52-week high in late July and then corrected with a falling flag or channel the last five weeks. Despite this correction, the indicator window shows On Balance Volume (OBV) remaining strong and hitting a new high last week. This suggests that BAC is still under accumulation and prices could breakout. Joe Granville, creator of OBV and a pioneer in technical analysis, passed away on Monday. He was 90.

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Arthur Hill
About The Author:

Arthur is the Chief Technical Strategist at TrendInvestorPro. Focused primarily on US equities and ETFs, his systematic approach of identifying trend, finding signals within and setting key price levels has made him an industry-leading technician. Learn More 

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