The weekly chart of BAC shows a classic cup and handle formation, a well-recognized bullish continuation pattern. The rounded bottom developed over several years, signaling long-term accumulation by investors. This pattern suggests that the stock has built a solid base and is poised for upward momentum.

Recently, BAC broke above the key resistance zone of $45.50–$47.00, previously tested in December 2021. The subsequent pullback retested this level, confirming it as strong support. This breakout is technically significant, indicating potential for a sustained bullish trend.

Key Levels:

• Support Zone: $45.50 – $47.00
• Upside Targets: $54.50, $60.00, $65.00

The price action confirms that as long as BAC remains above the $45.50–$47.00 support, the bullish bias is intact. Traders and investors can anticipate potential gains toward the indicated targets, with interim resistance levels providing opportunities for partial profit-taking.

Summary: BAC is exhibiting strong bullish characteristics following the completion of the cup and handle pattern. Long-term accumulation, a validated support zone, and a clear series of breakout levels suggest significant upside potential. Maintaining stops below $45.50 can help manage downside risk while positioning for mid-to-long-term gains.