BANK OF AMERICA CORP (BAC) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:BAC - US0605051046 - Common Stock
Overall BAC gets a technical rating of 8 out of 10. Although BAC is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
BAC has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. A pullback is taking place, which may present a nice opportunity for an entry. There is very little resistance above the current price. 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
48.15
4 important support areas can be observed.
- A support zone ranging from 55.52 to 55.58. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 53.94 to 54.45. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @52.54 from a trend line in the weekly time frame.
- 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.
We found 1 important resistance area.
- Resistance @57.26 from a horizontal line in the daily 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 | 77.97 | POSITIVE | BAC has a high relative strength, it outperformed 77.97% 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) | 55.11 | 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. |
| Stochastics (14,3) | 53.23 | NEUTRAL | The Stochastics value for BAC is a neutral value. |
| 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) | 16.68 | NEGATIVE | The low ADX value for BAC suggests a weak or negative trend. |
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 |
|---|---|---|---|
| 55.97 | 55.51 | 0.46 (0.81%) | 25.00% |
| An entry @55.97. This is a Buy Stop order right above the 10 day moving average. | An exit @55.51. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.46 points, which is 0.81%. | For a 0.20% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of BAC. Please evaluate whether better entry and exit points can be found.
- 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.
55.85
-0.33 (-0.59%)
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 trend direction for 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 55.1058. This indicates that the stock is currently neutral.
What is the MACD signal for BANK OF AMERICA CORP (BAC) stock?
The MACD indicator for BANK OF AMERICA CORP (BAC) has a value of -0.0530537, indicating a bearish trend.
What is the buy/sell signal for BAC stock?
The buy/sell signal for BANK OF AMERICA CORP (BAC) is buy as both the short term and long term trends are positive.