BANK OF AMERICA CORP (BAC) Technical Analysis
NYSE:BAC • US0605051046
Current stock price
BAC Technical Rating and Analysis
Overall BAC gets a technical rating of 9 out of 10. 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 75% of all stocks. On top of that, BAC also shows a nice and consistent pattern of rising prices.
- 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 is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
- BAC has an average volume of 42240700 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- BAC is part of the Banks industry. There are 376 other stocks in this industry, BAC did better than 66% of them.
BAC Weekly and Daily overview Charts
BAC Setup Rating and Analysis
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 a support zone below the current price at 52.25, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
BAC Support and Resistance Analysis
45.20
4 important support areas can be observed.
- Support @52.25 from a horizontal line in the daily time frame.
- A support zone ranging from 50.56 to 51.41. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @48.23 from a trend line in the weekly time frame.
- A support zone ranging from 45.66 to 47.17. This zone is formed by a combination of multiple trend lines in multiple time frames.
We can see 2 important resistance areas.
- Resistance @54.15 from a trend line in the daily time frame.
- A resistance zone ranging from 56.17 to 57.26. This zone is formed by a combination of multiple trend lines in multiple time frames.
BAC Technical Indicator Signal Analysis
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 | 75.01 | POSITIVE | BAC has a high relative strength, it outperformed 75.01% 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) | DOWN | MIXED | The current price of BAC is above a declining 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) | 64.23 | NEUTRAL | The RSI value for BAC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.38 | POSITIVE | The MACD value suggests BAC has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 79.28 | NEUTRAL | The Stochastics value for BAC is a neutral value. |
| Average True Range in percent/ATR (20) | 2.26 | MEDIUM VOLATILITY | The ATR as a percentage value for BAC suggests some volalility. |
| Average Directional Index/ADX (14) | 28.86 | POSITIVE | The high ADX value value for BAC suggests a strong trend. |
BAC Chart- and CandleStick Pattern Analysis
BAC Example Setup
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 |
|---|---|---|---|
| 54.16 | 52.24 | 1.92 (3.55%) | 25.00% |
| An entry @54.16. This is a Buy Stop order right above the resistance zone. | An exit @52.24. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 1.92 points, which is 3.55%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.89%. |
- 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.
BAC Technicals: Chart, Performance Metrics, Trend & Indicators
53.48
-0.47 (-0.87%)
BANK OF AMERICA CORP / BAC TA FAQ
What is the ChartMill technical rating of BANK OF AMERICA CORP (BAC) stock?
ChartMill assigns a technical rating of 9 / 10 to BAC.
What is the trend direction for BAC stock?
The current trend direction for BANK OF AMERICA CORP (BAC) is Bullish.
What is the RSI signal for BANK OF AMERICA CORP (BAC) stock?
BANK OF AMERICA CORP (BAC) has an RSI value of 64.2334. This indicates that the stock is currently neutral.
What is the short term momentum for BAC stock?
The short term momentum for BANK OF AMERICA CORP (BAC) is positive.
What is the support and resistance level for BAC stock?
BANK OF AMERICA CORP (BAC) has a support level at 52.25 and a resistance level at 54.15. Check the full technical report for our detailed analysis of BAC support and resistance levels.