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BAC - Bank of America Corporation

Industry: Money Center Banks Sector: Financial Exchange: NYSE

BAC - Bank of America Corporation

Industry: Money Center Banks Sector: Financial Exchange: NYSE
#3204()/6683

Fri 23'rd Mar 2018

PERIOD 2017-12-26 - 2018-03-23
CHANGE -4.52%
PRICE $29.17
VOLUME
Buy
TREND
Hold

MV LONG
Sell

MV SHORT
Sell

PIVOT
Sell

MACD
Sell

0.00%

Bank of America Corporation Stock Analysis

Technical stock analysis for Fri 23'rd Mar 2018

Sell candidate since 2018-03-22 Loss -4.52%

Bank of America Corporation fell by -4.52% in the last day from $30.55 to $29.17 and has now fallen 4 days in a row. The price has fallen in 7 of the last 10 days and is down by -10.85% for this period. Volume has increased in the last day by 5.52 million shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 115.68 million shares bought and sold for approximately $3 374.31 million.

Shorts 1.48% ( 2018-02-28 )
Cash n/a
Loans 1 047 377.0 mill
Beta 1.35
ROA 0.70

Trend

Bank of America Corporation has broken the weak rising short-term trend down. This signalize a slower rising rate, but may also be an early warning about a possible trend shift. Due to trend being broken there will now be resistance at the bottom line of the trend at $30.62. A reaction back to this level may hold a second chance to get out before further falls.

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Signals

There are few to none technical positive signals at the moment. Bank of America Corporation holds sales signals from both short- and long-term moving averages. In addition, there is a general sales signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up there will be some resistance from the lines at $31.40 and $31.69. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Monday March 12, 2018, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Access today's Top 5 Golden Star Companies

Relative Strength Index (RSI)

The stock currently holds a RSI14 at 18 and is oversold on RSI14. The stock being oversold is no guarantee for instant reaction up as some stocks may be oversold for a long time. It is important to review the previous RSI-history to get an indication of the RSI-sensitiveness.

Access full RSI 14 and RSI 21 lists

Support & Resistance

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days. On the upside the stock meets some resistance just above today's level from accumulated volume at $30.33, $30.55 and $31.18.

The stock is about to test the resistance from accumulated volume at $30.33 and this may cause the stock to take a minor break or get into a more sideways move for a few days.

Price: $29.17 Resistance: $30.33

Risk

This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $1.77 (6.09%) between high and low. For the last week, the stock has had a daily average volatility of 2.95%.

Bank of America Corporation is oversold on RSI14 (18). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.

Overall risk:

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