BANK OF AMERICA CORP (BAC) Stock Technical Analysis
USA - NYSE:BAC - US0605051046 - Common Stock
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.
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 a support zone below the current price at 51.64, a Stop Loss order could be placed below this zone.
More info and screens
35.14
We found 5 important support areas.
- A support zone ranging from 51.07 to 51.64. 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 @47.28 from a trend line in the daily time frame.
- Support @35.49 from a trend line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 52.83 to 54.12. This zone is formed by a combination of multiple trend lines and important moving averages 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 | NEUTRAL | NEUTRAL | The short term trend for BAC is neutral. |
| ChartMill Relative Strength | 75.79 | POSITIVE | BAC has a high relative strength, it outperformed 75.79% 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) | 51.26 | 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. |
| Stochastics (14,3) | 49.46 | NEUTRAL | The Stochastics value for BAC is a neutral value. |
| Average True Range in percent/ATR (20) | 1.88 | LOW VOLATILITY | The low ATR as a percentage value for BAC suggests low volalility. |
| Average Directional Index/ADX (14) | 17.84 | 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 |
|---|---|---|---|
| 54.13 | 51.73 | 2.40 (4.44%) | 22.51% |
| An entry @54.13. This is a Buy Stop order right above the resistance zone. | An exit @51.73. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 2.40 points, which is 4.44%. | For a 1.00% total portfolio risk, you can invest 22.51% 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.
52.61
-0.26 (-0.49%)
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 7 / 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 51.2582. 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 neutral.
What are the support and resistance levels for BANK OF AMERICA CORP (BAC) stock?
BANK OF AMERICA CORP (BAC) has a support level at 51.64 and a resistance level at 52.83. Check the full technical report for our detailed analysis of BAC support and resistance levels.