BANK OF AMERICA CORP (BAC) Stock Technical Analysis
NYSE:BAC • US0605051046
We assign a technical rating of 2 out of 10 to BAC. BAC has been an average performer in the overall market. Also recent evolutions are not that positive: both the medium and short term time frames give negative signs.
- BAC is one of the lesser performing stocks in the Banks industry. 62% of 381 stocks in the same industry do better.
- In the last month BAC has a been trading in the 51.31 - 56.87 range, which is quite wide. It is currently trading near the lows of this range.
- 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 38808200 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 62% of all stocks.
Although the technical rating is bad, BAC does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a support zone below the current price at 52.83, a Stop Loss order could be placed below this zone.
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50.49
When analyzing the support we notice one important area.
- A support zone ranging from 51.00 to 52.83. This zone is formed by a combination of multiple trend lines in multiple time frames.
We can see 2 important resistance areas.
- A resistance zone ranging from 53.37 to 54.31. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 56.25 to 57.26. This zone is formed by a combination of multiple trend lines 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 | 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 | 62.94 | NEUTRAL | BAC is not amongst the best or worst performers 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) | DOWN | NEGATIVE | The current price of BAC is below 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) | 45.75 | NEUTRAL | The RSI value for BAC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.14 | NEGATIVE | The MACD value suggests BAC has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 29.96 | NEUTRAL | The Stochastics value for BAC is a neutral value. |
| Average True Range in percent/ATR (20) | 2.48 | MEDIUM VOLATILITY | The ATR as a percentage value for BAC suggests some volalility. |
| Average Directional Index/ADX (14) | 20.27 | NEUTRAL | The ADX value for BAC suggests a possible start of a new trend. |
53.06
+0.29 (+0.55%)
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 2 / 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 45.7535. 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 -0.144906, indicating a bearish trend.