BANK OF AMERICA CORP (BAC) Stock Technical Analysis
USA • New York Stock Exchange • NYSE:BAC • US0605051046
We assign a technical rating of 3 out of 10 to BAC. In the last year, BAC was a medium performer in the overall market. We are getting mixed signals now in both the short and medium term picture.
- BAC is one of the lesser performing stocks in the Banks industry. 64% of 383 stocks in the same industry do better.
- BAC is currently showing a bear flag pattern! A bear flag pattern occurs when prices pull back slightly after a strong move down. This may present a good short opportunity.
- 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 has an average volume of 37615800 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- The long term trend is neutral, but the short term trend is negative. Better to stay away from this!
- When comparing the performance of all stocks over the past year, BAC turns out to be only a medium performer in the overall market: it outperformed 61% of all stocks.
Although the technical rating is bad, BAC does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. There is a support zone below the current price at 52.36, a Stop Loss order could be placed below this zone.
More info and screens
50.49
We found 1 important support area.
- A support zone ranging from 51.00 to 52.36. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 53.46 to 53.95. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- 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 | NEUTRAL | NEUTRAL | The long term trend for BAC is neutral. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for BAC is down. |
| ChartMill Relative Strength | 61.9 | NEUTRAL | BAC is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of BAC is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | MIXED | The current price of BAC is below 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) | 47.75 | NEUTRAL | The RSI value for BAC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.08 | NEGATIVE | The MACD value suggests BAC has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 29.24 | NEUTRAL | The Stochastics value for BAC is a neutral value. |
| Average True Range in percent/ATR (20) | 2.12 | MEDIUM VOLATILITY | The ATR as a percentage value for BAC suggests some volalility. |
| Average Directional Index/ADX (14) | 26.37 | POSITIVE | The high ADX value value for BAC suggests a strong trend. |
53.2
+0.12 (+0.23%)
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 3 / 10 to BAC.
What is the trend direction for BAC stock?
The current trend direction for BANK OF AMERICA CORP (BAC) is Bearish.
What is the RSI signal for BAC stock?
BANK OF AMERICA CORP (BAC) has an RSI value of 47.7475. 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 -0.0781989, indicating a bearish trend.