BANK OF AMERICA CORP (BAC) Stock Technical Analysis
NYSE:BAC - New York Stock Exchange, Inc. - US0605051046 - Common Stock - Currency: USD
We assign a technical rating of 7 out of 10 to BAC. In the last year, BAC was an average performer in the market. There are positive signs in the very recent evolution, but the medium term picture is still mixed.
Both the short term and long term trends are positive. This is a very positive sign.
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.
In the last month BAC has a been trading in the 42.35 - 45.40 range, which is quite wide. It is currently trading near the high of this range.
Prices have been consolidating recently, this may present a good entry opportunity.
BAC has an average volume of 48855800 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Looking at the yearly performance, BAC did better than 75% of all other stocks. However, this overall performance is mostly based on the strong move around 7 months ago.
BAC is an average performer in the Banks industry, it outperforms 48% of 396 stocks in the same industry.
BAC has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is very little resistance above the current price.
More info and screens
35.26
48.26
We found 2 important support areas.
- A support zone ranging from 42.85 to 43.19. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @35.62 from a trend line in the weekly time frame.
We can see 2 important resistance areas.
- Resistance @46.10 from a horizontal line in the daily time frame.
- A resistance zone ranging from 47.51 to 47.78. 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 | UP | POSITIVE | The short term trend for BAC is up. |
| ChartMill Relative Strength | 75.92 | POSITIVE | BAC has a high relative strength, it outperformed 75.92% 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) | 66.31 | NEUTRAL | The RSI value for BAC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.05 | NEGATIVE | The MACD value suggests BAC has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 88.51 | OVERBOUGHT | The high Stochastics value suggests BAC may be overbought. |
| Average True Range in percent/ATR (20) | 1.79 | LOW VOLATILITY | The low ATR as a percentage value for BAC suggests low volalility. |
| Average Directional Index/ADX (14) | 20.04 | 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)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 46.11 | 43.35 | 2.76 (5.99%) | 16.71% |
| An entry @46.11. This is a Buy Stop order right above the resistance zone. | An exit @43.35. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 2.76 points, which is 5.99%. | When investing 16.71% of your capital in this trade, your total portfolio risk will be 1.00%. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
45.09
+0.22 (+0.49%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorFinancials
GICS IndustryBanks
Performance
% Chg0.49%
1 Week0.99%
2 Weeks1.97%
1 Month3.99%
3 Month10.27%
6 Month-1.27%
12 Month14.91%
2 Year57.16%
3 Year44.84%
5 Year89.85%
10 Year164.92%
15 Year213.78%
Volatility
ATR(14)0.76
ATR(20)%1.79%
ATR Inc-32.74%
Range Today0.45
ADR(20)0.78
ADR(20)%1.72%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS75.92
Mansfield0.11
10 Day High45.4
10 Day Low43.36
20 Day High45.4
20 Day Low42.35
52 Week High48.08
52 Week Low33.07
CS1 End43.19
CR1 Start46.1
Volume & EV
DER(3)-2.3%
DER(5)-1.45%
Volume32.23M
Volume Incr-15.18%
Vol(5)32.86M
Vol(50)48.86M