BANK OF AMERICA CORP (BAC) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:BAC - US0605051046 - Common Stock
Taking everything into account, BAC scores 9 out of 10 in our technical rating. 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 and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 53.96. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 53.12, a Stop Loss order could be placed below this zone.
More info and screens
47.27
When analyzing the support we can see 4 important areas.
- A support zone ranging from 51.04 to 53.12. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @49.46 from a horizontal line in the daily 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.
- Support @47.75 from a trend line in the daily time frame.
We found 1 important resistance area.
- A resistance zone ranging from 53.96 to 54.17. 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 | 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 | 76.72 | POSITIVE | BAC has a high relative strength, it outperformed 76.72% 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) | 59.45 | NEUTRAL | The RSI value for BAC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.15 | POSITIVE | The MACD value suggests BAC has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 87.11 | OVERBOUGHT | The high Stochastics value suggests BAC may be overbought. |
| 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) | 15.11 | 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 |
|---|---|---|---|
| 54.18 | 50.69 | 3.49 (6.45%) | 15.50% |
| An entry @54.18. This is a Buy Stop order right above the resistance zone. | An exit @50.69. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 3.49 points, which is 6.45%. | For a 1.00% total portfolio risk, you can invest 15.50% 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.
53.95
-0.21 (-0.39%)
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 9 / 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 59.445. 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 positive.
What are the support and resistance levels for BANK OF AMERICA CORP (BAC) stock?
BANK OF AMERICA CORP (BAC) has a support level at 53.12 and a resistance level at 53.96. Check the full technical report for our detailed analysis of BAC support and resistance levels.