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Bank of America Corporation Stock Forecast NYSE:BAC

$46.37 (2.88%)

Volume: 64M

Closed: Oct 15, 2021

Hollow Logo Score: 0.000

Bank of America Corporation Stock Forecast

$46.37 (2.88%)

Volume: 64M

Closed: Oct 15, 2021

Score Hollow Logo 0.000
Which way will BAC go? Request
Stop-loss: $44.19 (-4.71%)
Key Stats
P/E Ratio 14.91
Beta 1.01
Trailing Dividend Rate 1.61% ($0.74)
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 25 - 75 ] RSI14 is 71 and the stock is currently not being overbought or oversold

Evaluation of Bank of America Corporation stock downgraded after the last trading session.
(Updated on Oct 15, 2021)


Buy or Hold candidate since 2021-09-24 Gain 10.04%

The Bank of America Corporation stock price gained 2.88% on the last trading day (Friday, 15th Oct 2021), rising from $45.07 to $46.37. , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 2.89% from a day low at $45.36 to a day high of $46.67. The price has risen in 6 of the last 10 days and is up by 7.64% over the past 2 weeks. Volume fell on the last day by -18 million shares and in total, 64 million shares were bought and sold for approximately $2.96 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The stock has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $45.61, a level that may pose a second chance to hit a runner. According to fan-theory $50.37 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

Signals & Forecast

The Bank of America Corporation stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $44.34 and $42.11. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, September 20, 2021, and so far it has risen 18.56%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Support, Risk & Stop-loss

On the downside, the stock finds support just below today's level from accumulated volume at $40.50 and $40.14. There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Bank of America Corporation finds support just below today's level at $40.50. If this is broken, then the next support from accumulated volume will be at $40.14 and $37.96.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.31 between high and low, or 2.89%. For the last week, the stock has had a daily average volatility of 2.76%.

Our recommended stop-loss: $44.19 (-4.71%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 19 days ago.)

Is Bank of America Corporation stock A Buy?

Bank of America Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.

Current score: 0.000

NB: Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Bank of America Corporation of Monday, October 18, 2021

The predicted opening price is based on yesterday's movements between high, low, and the closing price.

Fair opening price October 18, 2021 Current price
$46.13 $46.37 (Overvalued)
Hold/Accumulate Downgraded

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Analyst Ratings

On Oct 15, 2021 "Barclays" gave "$45.00 - $49.00" rating for BAC. The price target was set to $45.07+4.5%.

Volatility and Risk
Daily Average Volatility: 2.76 %
Overall Risk: Very High High Medium Low Very Low
Volatility
2.76 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

No Resistance Found
Price: $46.37
Support: $40.50

BAC Insider Trading Show all Trades

INSIDER POWER

0.947

Last 100 transactions
Buy: 1 632 257 | Sell: 1 723 730 (Shares)
Date Action Amount Person Type
Apr 30, 2021 Sell 4 400 Bramble Frank P Common Stock
Apr 30, 2021 Sell 4 400 Bramble Frank P Common Stock
Apr 20, 2021 Buy 6 565 Bramble Frank P Phantom Stock
Apr 20, 2021 Buy 6 565 De Weck Pierre J.p. Common Stock
Apr 20, 2021 Sell 1 721 De Weck Pierre J.p. Common Stock
Show all Insider Trades
INSIDER POWER

0.947

Last 100 transactions
Buy: 1 632 257 | Sell: 1 723 730 (Shares)

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 47.44 2.31 %
46.94 1.24 %
46.63 0.57 %
Current price: 46.37
Support 45.63 -1.59 %
45.32 -2.26 %
44.82 -3.34 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 0 .
0 .
0 .
Current price 46.37
Support 40.50 -12.66%
40.14 -13.44%
37.96 -18.14%

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About Bank of America Corporation

Bank of America Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. It operates through five segments: Consumer Banking, Global Wealth & Investment Management, Global Banking, Global Markets, and Legacy Assets & Servicing. The Consumer Banking segment offers traditional and m... Read more

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