BANK OF AMERICA CORP (BAC) Stock Technical Analysis
USA - NYSE:BAC - US0605051046 - Common Stock
We assign a technical rating of 8 out of 10 to BAC. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, BAC is showing a nice and steady performance.
BAC has an excellent technical rating, but the quality of the setup is only medium 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
35.11
5 important support areas can be observed.
- A support zone ranging from 50.62 to 51.74. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 48.64 to 48.64. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @47.04 from a trend line in the daily time frame.
- Support @44.09 from a horizontal line in the daily time frame.
- Support @35.46 from a trend line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 52.88 to 53.57. This zone is formed by a combination of multiple trend lines and important moving averages 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 | 79.58 | POSITIVE | BAC has a high relative strength, it outperformed 79.58% 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) | 54.14 | NEUTRAL | The RSI value for BAC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.1 | POSITIVE | The MACD value suggests BAC has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 81.42 | OVERBOUGHT | The high Stochastics value suggests BAC may be overbought. |
| Average True Range in percent/ATR (20) | 2.35 | MEDIUM VOLATILITY | The ATR as a percentage value for BAC suggests some volalility. |
| Average Directional Index/ADX (14) | 18.37 | NEGATIVE | The low ADX value for BAC suggests a weak or negative trend. |
52.45
-1.09 (-2.04%)
BANK OF AMERICA CORP / BAC FAQ
What is the ChartMill technical rating of BANK OF AMERICA CORP (BAC) stock?
ChartMill assigns a technical rating of 8 / 10 to BAC.
What is the current trend direction of BANK OF AMERICA CORP (BAC) stock?
The current trend direction for BANK OF AMERICA CORP (BAC) is Bullish.
What is the RSI signal for BAC stock?
BANK OF AMERICA CORP (BAC) has an RSI value of 54.1365. This indicates that the stock is currently neutral.
What is the short term momentum for BANK OF AMERICA CORP (BAC) stock?
The short term momentum for BANK OF AMERICA CORP (BAC) is neutral.
What are the support and resistance levels for BANK OF AMERICA CORP (BAC) stock?
BANK OF AMERICA CORP (BAC) has a support level at 51.74 and a resistance level at 52.88. Check the full technical report for our detailed analysis of BAC support and resistance levels.