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BANK OF AMERICA CORP (NYSE:BAC) – A Technical Breakout Candidate Worth Watching

By Mill Chart

Last update: Jun 4, 2025

BANK OF AMERICA CORP (NYSE:BAC) has emerged as a potential breakout candidate based on its technical strength and consolidation pattern. The stock currently holds a solid technical rating and shows signs of a favorable setup for traders. Below, we examine why BAC stands out from a technical perspective.

BANK OF AMERICA stock chart

Technical Strength

BAC scores a 7 out of 10 in ChartMill’s Technical Rating, indicating a healthy trend. Key factors supporting this rating include:

  • Positive Trends: Both short-term and long-term trends are upward, reinforcing bullish momentum.
  • Relative Strength: The stock is outperforming 76% of the market over the past year and trades near the upper end of its 52-week range.
  • Moving Averages: BAC is trading above its 20-day, 50-day, and 200-day moving averages, confirming strength.

Despite a mixed medium-term performance, recent price action suggests renewed bullish interest.

Setup Quality

BAC’s Setup Rating of 8 out of 10 highlights a consolidation phase with reduced volatility, often a precursor to a breakout. Key observations include:

  • Bull Flag Pattern: The stock is forming a bullish continuation pattern after a strong upward move.
  • Support and Resistance: A clear support zone exists between $43.19 and $44.35, while resistance sits near $44.75. A breakout above this level could signal further upside.
  • Low Overhead Resistance: Minimal resistance above current prices improves the likelihood of a sustained move higher.

Trade Setup Suggestion

The technical report suggests a potential entry at $44.76, just above resistance, with a stop-loss below $43.18. This setup offers a risk-reward ratio of about 3.5% downside for a possible breakout continuation.

For more details, review the full technical analysis report for BAC.

Our Technical Breakout Setups screener provides more breakout candidates updated daily.

Disclaimer

This is not investment advice. Always conduct your own analysis and consider risk management before trading.

BANK OF AMERICA CORP

NYSE:BAC (6/4/2025, 8:06:47 PM)

Premarket: 44.32 -0.04 (-0.09%)

44.36

-0.29 (-0.65%)



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BAC Latest News and Analysis

ChartMill News Image20 hours ago - ChartmillBANK OF AMERICA CORP (NYSE:BAC) – A Technical Breakout Candidate Worth Watching

BANK OF AMERICA CORP (NYSE:BAC) shows strong technicals and a bullish setup, making it a breakout candidate. The stock trades above key moving averages with limited overhead resistance.

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