Bank Of America Corporation Stock Forecast
Stronger technical forecast for Bank Of America Corporation stock price after Tuesday trading.
(Updated on Jun 25, 2024)
The Bank Of America Corporation stock price gained 0.273% on the last trading day (Tuesday, 25th Jun 2024), rising from $21.94 to $22.00. It 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 last trading day the stock fluctuated 0.593% from a day low at $21.91 to a day high of $22.04. The price has risen in 7 of the last 10 days and is up by 1.8% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 37 thousand more shares were traded than the day before. In total, 88 thousand shares were bought and sold for approximately $1.94 million.
The stockhas broken the narrow and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $21.78, a level that may pose a second chance to hit a runner. According to fan-theory $22.56 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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BAC-PN Signals & Forecast
Mostly positive signals in the chart today. 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 $21.84 and $21.83. 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 3.24%. 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 is rising along with the price. This is considered to be a good technical signal. The stock had a Golden Star Signal on Wednesday, May 22, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Monday, July 24, 2023.
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 Wednesday, May 22, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Monday, July 24, 2023.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 Wednesday, May 22, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Monday, July 24, 2023.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 2.61% to $22.58 within 8 trading days since signal was issued (Friday, May 10, 2024).
Support, Risk & Stop-loss for Bank Of America Corporation stock
Bank Of America Corporation finds support from accumulated volume at $21.94 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 $0.130 between high and low, or 0.593%. For the last week the stock has had daily average volatility of 0.706%.
Our recommended stop-loss: $21.03 (-4.41%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 43 days ago.)
Trading Expectations (BAC-PN) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Bank Of America Corporation to open at $21.98, and during the day (based on 14 day Average True Range), to move between $21.81 and $22.19, which gives a possible trading interval of +/-$0.187 (+/-0.85%) 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 1.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $21.94 (0.27%) than the resistance at $22.12 (0.55%), 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 break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.758 Buy Candidate Upgraded
Predicted Opening Price for Bank Of America Corporation of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $21.98 ( 0.0758%) | $22.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BAC-PN
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 22.11 | 0.515% |
| R2 | 22.06 | 0.289% |
| R1 | 22.03 | 0.150% |
| Price | 22.00 | |
| S1 | 21.93 | -0.301% |
| S2 | 21.90 | -0.441% |
| S3 | 21.85 | -0.667% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 22.65 | 2.95% |
| R2 | 22.42 | 1.91% |
| R1 | 22.12 | 0.545% |
| Price | 22.00 | |
| S1 | 21.94 | -0.273% |
| S2 | 21.90 | -0.455% |
| S3 | 21.89 | -0.500% |
BAC-PN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 31, 2024 | May 31, 2024 | Jun 17, 2024 | $0.313 | 1.44% |
| 2 | Feb 29, 2024 | Feb 29, 2024 | Feb 29, 2024 | $0.313 | 1.40% |
| 3 | Nov 30, 2023 | Nov 30, 2023 | Dec 18, 2023 | $0.313 | 1.46% |
| 4 | Aug 31, 2023 | Aug 31, 2023 | Sep 18, 2023 | $0.313 | 1.52% |
| 5 | May 31, 2023 | May 31, 2023 | Jun 20, 2023 | $0.313 | 1.46% |
FAQ
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