BANK OF AMERICA CORP (BAC) Stock Technical Analysis
NYSE:BAC - US0605051046 - Common Stock
50.74 USD
+0.25 (+0.5%)
50.8398 USD
+0.1 (+0.2%)
We assign a technical rating of 10 out of 10 to BAC. Both in the recent history as in the last year, BAC has proven to be a steady performer, scoring decent points in every aspect analyzed.
The long and short term trends are both positive. This is looking good!
When comparing the yearly performance of all stocks, we notice that BAC is one of the better performing stocks in the market, outperforming 80% of all stocks. On top of that, BAC also shows a nice and consistent pattern of rising prices.
BAC is one of the better performing stocks in the Banks industry, it outperforms 78% of 393 stocks in the same industry.
A new 52 week high is currently being made by BAC, which is a very good signal! However, this is in line with the S&P500, which is also trading near new highs.
In the last month BAC has a been trading in the 44.75 - 50.92 range, which is quite wide. It is currently trading near the high of this range.
BAC has an average volume of 39315500 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Although BAC has an excellent technical rating, it does not offer a high quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
36.60
51.25
When analyzing the support we can see 4 important areas.
- A support zone ranging from 46.90 to 48.31. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 44.91 to 45.65. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @44.09 from a horizontal line in the daily time frame.
- Support @36.97 from a trend line in the weekly time frame.
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 | UP | POSITIVE | The short term trend for BAC is up. |
| ChartMill Relative Strength | 80.02 | POSITIVE | BAC has a high relative strength, it outperformed 80.02% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of BAC is above the rising 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) | 72.22 | OVERBOUGHT | The high RSI value suggests BAC may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.34 | POSITIVE | The MACD value suggests BAC has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 96.19 | OVERBOUGHT | The high Stochastics value suggests BAC may be overbought. |
| Average True Range in percent/ATR (20) | 1.65 | LOW VOLATILITY | The low ATR as a percentage value for BAC suggests low volalility. |
| Average Directional Index/ADX (14) | 21.85 | 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)
50.74
+0.25 (+0.5%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorFinancials
GICS IndustryBanks
Performance
% Chg0.5%
1 Week2.55%
2 Weeks8.1%
1 Month11.13%
3 Month14.98%
6 Month10.07%
12 Month24.52%
2 Year76.98%
3 Year50.97%
5 Year97.13%
10 Year210.53%
15 Year307.22%
Volatility
ATR(14)0.81
ATR(20)%1.65%
ATR Inc-56.47%
Range Today0.41
ADR(20)0.81
ADR(20)%1.6%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS80.02
Mansfield0.56
10 Day High50.92
10 Day Low46.79
20 Day High50.92
20 Day Low44.75
52 Week High50.92
52 Week Low33.07
CS1 End48.31
CR1 StartN/A
Volume & EV
DER(3)-1.53%
DER(5)-0.48%
Volume32.50M
Volume Incr10.31%
Vol(5)36.64M
Vol(50)39.32M