Bank of America: +1.42% in less than 24 hours

New earnings season have started so many new posts about it to come!

Bank of America Corporation was expected to reveal its fourth-quarter earnings before the open of trading on Friday, January 13. We had published the question below a few weeks before earnings report was released:

Bank of America Corporation (BAC) will report its Q4 earnings on January 13 before the market open. Wall Street is expecting earnings per share (EPS) of 38 cents. Will Bank of America report EPS above Wall Street Consensus?

Cindicator users thought that the probability of BofA to report better-than-expected earnings was 77 percent. Therefore, we had bought a few shares of BAC at $22.9 average right before the market close on Thursday, January 12.

Bank of America announced stronger-than-expected fiscal fourth-quarter results. The company reported earnings per share of 40 cents versus the analyst’s estimate of 38 cents.

We closed half of the position at $23.25 and another half at $23.2.

Overall, gross profit was 1.42% in less than 24 hours.

Happy trading,

Cindicator team

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