Bank Of America Corporation Stock Forecast
Bank Of America Corporation stock price up 0.0798% on Wednesday
(Updated on Jun 26, 2024)
The Bank Of America Corporation stock price gained 0.0798% on the last trading day (Wednesday, 26th Jun 2024), rising from $25.07 to $25.09. It has now gained 4 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 last trading day the stock fluctuated 0.320% from a day low at $25.01 to a day high of $25.09. The price has risen in 7 of the last 10 days and is up by 1.01% over the past 2 weeks. Volume fell on the last day by -9 thousand shares and in total, 33 thousand shares were bought and sold for approximately $836.23 thousand. 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 narrow and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $24.96 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $25.44 sometime during the next 3 months.
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BAC-PK 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 $24.96 and $24.83. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 2.79%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The stock had a Golden Star Signal on Thursday, May 02, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Thursday, June 20, 2024.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Thursday, May 02, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Thursday, June 20, 2024.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Thursday, May 02, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Thursday, June 20, 2024.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
A buy signal from a double bottom formation was found on Tuesday, April 30, 2024 and based on theory for this formation the price should go up by 0.660% to $25.26 within 11 trading days since signal was issued (Wednesday, May 15, 2024).
Support, Risk & Stop-loss for Bank Of America Corporation stock
Bank Of America Corporation finds support from accumulated volume at $24.97 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.0800 between high and low, or 0.320%. For the last week the stock has had daily average volatility of 0.375%
Our recommended stop-loss: $24.11 (-3.92%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 44 days ago.)
Trading Expectations (BAC-PK) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Bank Of America Corporation to open at $25.06, and during the day (based on 14 day Average True Range), to move between $24.95 and $25.23, which gives a possible trading interval of +/-$0.137 (+/-0.54%) up or down from last closing price. If Bank Of America Corporation takes out the full calculated possible swing range there will be an estimated 1.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $24.97 (0.48%) than the resistance at $25.30 (0.84%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Bank Of America Corporation stock A Buy?
Several short-term signals are positive and the stock has broken the horizontal trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Bank Of America Corporation stock to perform well in the short-term period.
Current score: 1.326 Buy Candidate Unchanged
Predicted Opening Price for Bank Of America Corporation of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $25.06 ( 0.106%) | $25.09 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BAC-PK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 25.14 | 0.213% |
| R2 | 25.11 | 0.0908% |
| R1 | 25.09 | 0.0155% |
| Price | 25.09 | |
| S1 | 25.03 | -0.228% |
| S2 | 25.01 | -0.303% |
| S3 | 24.98 | -0.425% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 25.30 | 0.84% |
| Price | 25.09 | |
| S1 | 24.97 | -0.478% |
| S2 | 24.87 | -0.88% |
| S3 | 24.85 | -0.96% |
BAC-PK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 01, 2024 | Jul 01, 2024 | Jul 24, 2024 | $0 | 0% |
| 2 | Mar 28, 2024 | Mar 28, 2024 | Apr 24, 2024 | $0.367 | 1.48% |
| 3 | Dec 28, 2023 | Dec 28, 2023 | Dec 28, 2023 | $0.367 | 1.49% |
| 4 | Sep 28, 2023 | Sep 28, 2023 | Sep 28, 2023 | $0.367 | 1.57% |
| 5 | Jun 29, 2023 | Jun 29, 2023 | Jul 24, 2023 | $0.367 | 1.51% |
FAQ
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