We have owned Bank of America in the past and it has been a good trade. I am suggesting it again with a target gain in the range of 15-20% . If the CDN$ weakens again then that increases the potential gain. The pattern I am looking at is called a HEAD AND SHOULDERS REVERSAL but the pattern needs a move above $14 to confirm.
If you are interested in discussing whether this position is appropriate for your account please let me know.
The views expressed do not necessarily reflect the opinion of Argosy Securities Inc. This does not constitute an offer or solicitation to buy or sell any of the securities mentioned. The information contained herein may not apply to all types of investors. Please consult a professional before making an investment decision.