BANK OF AMERICA CORP (BAC) Stock Technical Analysis
NYSE:BAC - New York Stock Exchange, Inc. - US0605051046 - Common Stock - Currency: USD
Overall BAC gets a technical rating of 7 out of 10. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, BAC is only an average performer.
The short term is neutral, but the long term trend is still positive. Not much to worry about for now.
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 40410900 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 72% of all other stocks. However, this relatively good performance is mostly due to a recent big move.
BAC is an average performer in the Banks industry, it outperforms 65% of 394 stocks in the same industry.
In the last month BAC has a been trading in the 44.06 - 49.30 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Although BAC has an excellent technical rating, the quality of the presented setup is not ideal 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
34.56
46.61
We found 4 important support areas.
- A support zone ranging from 46.14 to 46.14. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 44.94 to 45.36. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @36.23 from a trend line in the weekly time frame.
- Support @34.91 from a trend line in the weekly 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 | NEUTRAL | NEUTRAL | The short term trend for BAC is neutral. |
| ChartMill Relative Strength | 72.56 | POSITIVE | BAC has a high relative strength, it outperformed 72.56% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of BAC is below 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) | 49.07 | NEUTRAL | The RSI value for BAC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.27 | NEGATIVE | The MACD value suggests BAC has a negative trend. |
| Stochastics (14,3) | 23.83 | NEUTRAL | The Stochastics value for BAC is a neutral value. |
| Average True Range in percent/ATR (20) | 1.82 | LOW VOLATILITY | The low ATR as a percentage value for BAC suggests low volalility. |
| Average Directional Index/ADX (14) | 24.75 | 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 |
|---|---|---|---|
| 47.55 | 46.13 | 1.42 (2.98%) | 25.00% |
| An entry @47.55. This is a Buy Stop order right above the 10 day moving average. | An exit @46.13. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 1.42 points, which is 2.98%. | For a 0.74% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- 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.
46.15
-0.92 (-1.95%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorFinancials
GICS IndustryBanks
Performance
% Chg-1.95%
1 Week-2.12%
2 Weeks-2.47%
1 Month4.67%
3 Month23.36%
6 Month-0.82%
12 Month7.58%
2 Year44.22%
3 Year36.5%
5 Year85.49%
10 Year158.11%
15 Year228.7%
Volatility
ATR(14)0.83
ATR(20)%1.82%
ATR Inc-5.48%
Range Today1.06
ADR(20)0.74
ADR(20)%1.6%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS72.56
Mansfield0.01
10 Day High49.31
10 Day Low45.95
20 Day High49.31
20 Day Low44.06
52 Week High49.31
52 Week Low33.07
CS1 End46.14
CR1 StartN/A
Volume & EV
DER(3)3.51%
DER(5)3.23%
Volume55.14M
Volume Incr-0.41%
Vol(5)42.73M
Vol(50)40.41M