Tuesday, 6 November 2012
US Stock Tip: A stock for retirement! (Bank of America, Ticker: BAC)
There have been friends that ask me about buying a stock for the long term. If you want to know my preference, this is definitely one stock you want to invest and keep for at least 3 years, just like Warren Buffett.
I have been talking about this stock ever since it was $5. Now it has doubled, to $10, and I believe that it can still double its value. With America's fundamental economy and GDP getting better, financial sector is on the way to recovery. With housing in America also getting better, this is one stock to watch out for!
Banking sector is coming back slowly, but surely!
Temporarily, it has hit a double top at $10 last week. For short term players, wait for a breakout of $10 or a retracement back to $9. For long term players, just get in and wait for 3 years! Bank of America has a dividend of $0.01 every quarter.
Below is the weekly chart of Bank of America:
Another company that did well in earnings this season is Citigroup, which like BAC, is one company you can buy and hold. But comparing, I think BAC has more room to run as dollar value is smaller.
For Singaporeans and Malaysians, you may invest in American companies through local brokerage houses too, like Phillip Securities and Affin Investment Bank.
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