BANK OF AMERICA CORP (BAC) Technical Analysis
NYSE:BAC • US0605051046
Current stock price
BAC Technical Rating and Analysis
We assign a technical rating of 1 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.
- The short term trend is negative, as is the long term trend. There should be more interesting stocks out there.
- BAC is one of the lesser performing stocks in the Banks industry. 66% of 380 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 has an average volume of 43955800 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- 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 51% of all stocks.
- BAC is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so BAC is lagging the market slightly.
BAC Weekly and Daily overview Charts
BAC Setup Rating and Analysis
BAC has a bad technical rating, but it does show a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a support zone below the current price at 47.36, a Stop Loss order could be placed below this zone.
More info and screens
BAC Support and Resistance Analysis
45.57
When analyzing the support we notice one important area.
- A support zone ranging from 46.03 to 47.36. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
3 important resistance areas can be observed.
- A resistance zone ranging from 48.76 to 48.76. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @52.25 from a horizontal line in the daily time frame.
- A resistance zone ranging from 56.17 to 56.25. This zone is formed by a combination of multiple trend lines in multiple time frames.
BAC Technical Indicator Signal Analysis
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 | DOWN | NEGATIVE | The long term trend for BAC is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for BAC is down. |
| ChartMill Relative Strength | 51.39 | NEUTRAL | BAC is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of BAC is above a declining 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 | MIXED | The current price of BAC is below the rising SMA(200). |
| Relative Strength Index/RSI (14) | 46.66 | NEUTRAL | The RSI value for BAC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.23 | POSITIVE | The MACD value suggests BAC has a positive trend. |
| Stochastics (14,3) | 55.44 | NEUTRAL | The Stochastics value for BAC is a neutral value. |
| Average True Range in percent/ATR (20) | 2.89 | MEDIUM VOLATILITY | The ATR as a percentage value for BAC suggests some volalility. |
| Average Directional Index/ADX (14) | 31.9 | POSITIVE | The high ADX value value for BAC suggests a strong trend. |
BAC Chart- and CandleStick Pattern Analysis
BAC Technicals: Chart, Performance Metrics, Trend & Indicators
48.75
+0.61 (+1.27%)
BANK OF AMERICA CORP / BAC TA FAQ
What is the ChartMill technical rating of BANK OF AMERICA CORP (BAC) stock?
ChartMill assigns a technical rating of 1 / 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 46.6596. 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 0.227673, indicating a bearish trend.
What is the buy/sell signal for BAC stock?
The buy/sell signal for BANK OF AMERICA CORP (BAC) is sell as both the short term and long term trends are negative.