Bank Of America Corporation Stock Forecast
Bank Of America Corporation stock price down 0.336% on Friday
(Updated on Jun 28, 2024)
The Bank Of America Corporation stock price fell by -0.336% on the last day (Friday, 28th Jun 2024) from $1,200.19 to $1,196.16. During the last trading day the stock fluctuated 0.713% from a day low at $1,195.00 to a day high of $1,203.52. The price has risen in 6 of the last 10 days and is up by 0.9% over the past 2 weeks. Volume has increased on the last day by 324 shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 4 thousand shares were bought and sold for approximately $4.57 million.
The stockis at the upper part of a narrow and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $1,200.56 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Bank Of America Corporation stock with a 90% probability to be traded between $1,188.00 and $1,224.03 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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BAC-PL 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 $1,195.56 and $1,183.63. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, June 27, 2024, and so far it has fallen -0.336%. Further fall is indicated 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. The stock had a Golden Star Signal on Monday, May 13, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Wednesday, June 12, 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 Monday, May 13, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Wednesday, June 12, 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 Monday, May 13, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Wednesday, June 12, 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.
Support, Risk & Stop-loss for Bank Of America Corporation stock
Bank Of America Corporation finds support from accumulated volume at $1,178.15 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $8.52 between high and low, or 0.713%. For the last week the stock has had daily average volatility of 0.84%.
Our recommended stop-loss: $1,162.42 (-2.82%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 41 days ago.)
Trading Expectations (BAC-PL) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Bank Of America Corporation to open at $1,198.23, and during the day (based on 14 day Average True Range), to move between $1,186.15 and $1,206.17, which gives a possible trading interval of +/-$10.01 (+/-0.84%) 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 1.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1,198.00 (0.15%) than the support at $1,178.15 (1.51%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Bank Of America Corporation stock A Buy?
Several short-term signals are positive and 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: 3.066 Buy Candidate Unchanged
Predicted Opening Price for Bank Of America Corporation of Monday, July 1, 2024
Fair opening price July 1, 2024 | Current price |
---|---|
$1,198.23 ( 0.173%) | $1,196.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BAC-PL
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 1,206.75 | 0.89% |
R2 | 1,203.49 | 0.613% |
R1 | 1,201.48 | 0.445% |
Price | 1,196.16 | |
S1 | 1,194.97 | -0.0993% |
S2 | 1,192.96 | -0.267% |
S3 | 1,189.71 | -0.540% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 1,200.19 | 0.337% |
R2 | 1,200.00 | 0.321% |
R1 | 1,198.00 | 0.154% |
Price | 1,196.16 | |
S1 | 1,178.15 | -1.51% |
S2 | 1,159.64 | -3.05% |
S3 | 1,150.00 | -3.86% |
BAC-PL Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jul 01, 2024 | Jul 01, 2024 | Jul 30, 2024 | $18.13 | 1.52% |
2 | Mar 28, 2024 | Mar 28, 2024 | Apr 30, 2024 | $18.13 | 1.58% |
3 | Dec 28, 2023 | Dec 28, 2023 | Jan 30, 2024 | $18.13 | 1.50% |
4 | Sep 28, 2023 | Sep 28, 2023 | Oct 30, 2023 | $18.13 | 1.72% |
5 | Jun 29, 2023 | Jun 29, 2023 | Jul 31, 2023 | $18.13 | 1.49% |
FAQ
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