BANK OF AMERICA CORP (BAC) Stock Technical Analysis
NYSE:BAC - New York Stock Exchange, Inc. - US0605051046 - Common Stock - Currency: USD
Taking everything into account, BAC scores 4 out of 10 in our technical rating. BAC has been an average performer in the overall market. We also notice some doubts in the very recent evolution, but in the medium term things are still fine.
In the last month BAC has a been trading in the 44.75 - 49.00 range, which is quite wide. It is currently trading near the lows of this range.
BAC is one of the better performing stocks in the Banks industry, it outperforms 73% of 392 stocks in the same industry.
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 39942200 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
The short term trend is negative, but the long term trend is still positive. So although the long term is still positive, this may be a trend turning.
Looking at the yearly performance, BAC did better than 71% of all other stocks. However, this overall performance is mostly based on the strong move around 10 months ago.
BAC has an average technical rating and it also does not offer a high quality setup 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
34.66
49.43
We found 3 important support areas.
- A support zone ranging from 45.41 to 45.41. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @36.60 from a trend line in the weekly time frame.
- Support @35.01 from a trend line in the weekly time frame.
2 important resistance areas can be observed.
- A resistance zone ranging from 47.07 to 47.77. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A resistance zone ranging from 48.93 to 48.94. 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 | DOWN | NEGATIVE | The short term trend for BAC is down. |
| ChartMill Relative Strength | 71.34 | POSITIVE | BAC has a high relative strength, it outperformed 71.34% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of BAC is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | MIXED | The current price of BAC is below 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) | 37.49 | NEUTRAL | The RSI value for BAC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.38 | NEGATIVE | The MACD value suggests BAC has a negative trend. |
| Stochastics (14,3) | 18.63 | OVERSOLD | The low Stochastics value suggests BAC may be oversold. |
| 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) | 20.8 | 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)
45.42
-0.14 (-0.31%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorFinancials
GICS IndustryBanks
Performance
% Chg-0.31%
1 Week-5.3%
2 Weeks-5.65%
1 Month-3.03%
3 Month8.69%
6 Month-4.18%
12 Month18.65%
2 Year58.42%
3 Year35.14%
5 Year76.46%
10 Year177.97%
15 Year264.53%
Volatility
ATR(14)0.78
ATR(20)%1.88%
ATR Inc1.33%
Range Today0.55
ADR(20)0.79
ADR(20)%1.75%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS71.34
Mansfield-0.33
10 Day High49
10 Day Low44.75
20 Day High49
20 Day Low44.75
52 Week High49.31
52 Week Low33.07
CS1 End45.41
CR1 Start47.07
Volume & EV
DER(3)-3.2%
DER(5)-2.57%
Volume27.92M
Volume Incr-8.11%
Vol(5)37.57M
Vol(50)39.94M