BANK OF AMERICA CORP (BAC) Stock Technical Analysis
USA - NYSE:BAC - US0605051046 - Common Stock
49.84 USD
-0.45 (-0.89%)
49.9301 USD
+0.09 (+0.18%)
Taking everything into account, BAC scores 6 out of 10 in our technical rating. In the last year, BAC was a medium performer in the overall market. The medium term is still looking fine, but we see some doubts in the very recent evolution.
In the last month BAC has a been trading in the 49.78 - 52.88 range, which is quite wide. It is currently trading near the lows of this range.
The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.
BAC is one of the better performing stocks in the Banks industry, it outperforms 77% of 392 stocks in the same industry.
BAC is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so BAC is lagging the market slightly.
BAC has an average volume of 34065500 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When comparing the yearly performance of all stocks, we notice that BAC is one of the better performing stocks in the market, outperforming 71% of all stocks. However, this overall performance is mostly based on the strong move around 4 months ago.
Although the technical rating is only medium, BAC does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry.
More info and screens
34.97
52.95
We found 4 important support areas.
- A support zone ranging from 45.65 to 46.37. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @44.91 from a horizontal line in the daily time frame.
- Support @44.09 from a horizontal line in the daily time frame.
- Support @35.32 from a trend line in the weekly time frame.
2 important resistance areas can be observed.
- A resistance zone ranging from 50.25 to 51.20. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A resistance zone ranging from 52.25 to 52.43. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for BAC is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for BAC is neutral. |
| ChartMill Relative Strength | 71.81 | POSITIVE | BAC has a high relative strength, it outperformed 71.81% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of BAC is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of BAC is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of BAC is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 41.98 | NEUTRAL | The RSI value for BAC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.33 | NEGATIVE | The MACD value suggests BAC has a negative trend. |
| Stochastics (14,3) | 10.68 | OVERSOLD | The low Stochastics value suggests BAC may be oversold. |
| Average True Range in percent/ATR (20) | 1.74 | LOW VOLATILITY | The low ATR as a percentage value for BAC suggests low volalility. |
| Average Directional Index/ADX (14) | 21.42 | NEUTRAL | The ADX value for BAC suggests a possible start of a new trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
49.84
-0.45 (-0.89%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorFinancials
GICS IndustryBanks
Performance
% Chg-0.89%
1 Week-1.66%
2 Weeks-3.6%
1 Month-0.58%
3 Month6.66%
6 Month38.64%
12 Month18.81%
2 Year89.22%
3 Year38.29%
5 Year110.3%
10 Year197.02%
15 Year335.28%
Volatility
ATR(14)0.91
ATR(20)%1.74%
ATR Inc-19.26%
Range Today0.73
ADR(20)0.85
ADR(20)%1.71%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS71.81
Mansfield-0.16
10 Day High52.62
10 Day Low49.78
20 Day High52.88
20 Day Low49.78
52 Week High52.88
52 Week Low33.07
CS1 End46.37
CR1 Start50.25
Volume & EV
DER(3)-2.59%
DER(5)-2.28%
Volume24.01M
Volume Incr-30.14%
Vol(5)24.13M
Vol(50)34.07M