Bank Of America Corporation Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Bank Of America Corporation stock price ended at $21.95 on Friday, after gaining 0.228%.
(Updated on Jun 28, 2024)
The Bank Of America Corporation stock price gained 0.228% on the last trading day (Friday, 28th Jun 2024), rising from $21.90 to $21.95. During the last trading day the stock fluctuated 0.687% from a day low at $21.82 to a day high of $21.97. The price has risen in 6 of the last 10 days and is up by 0.64% 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, 2 thousand more shares were traded than the day before. In total, 43 thousand shares were bought and sold for approximately $945.67 thousand.
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. $21.94 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 $22.75 sometime during the next 3 months.
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BAC-PN 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 $21.93 and $21.84. 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). Bank Of America Corporation has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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, May 30, 2024, and so far it has fallen -0.363%. Further fall is indicated until a new bottom pivot has been found. 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 sell signal from a double top formation was found on Thursday, May 30, 2024 and based on theory for this formation the price should fall by -1.75% to $21.57 within 26 trading days since signal was issued (Tuesday, July 09, 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 $0.150 between high and low, or 0.687%. For the last week the stock has had daily average volatility of 0.649%.
Our recommended stop-loss: $21.07 (-4.01%) (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-PN) 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 $21.91, and during the day (based on 14 day Average True Range), to move between $21.77 and $22.13, which gives a possible trading interval of +/-$0.180 (+/-0.82%) 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 1.64% 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 (0.05%) than the resistance at $22.12 (0.77%), 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?
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.
Current score: 0.877 Hold/Accumulate Unchanged
Predicted Opening Price for Bank Of America Corporation of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $21.91 ( 0.167%) | $21.95 |
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 | 22.06 | 0.516% |
| R2 | 22.01 | 0.255% |
| R1 | 21.97 | 0.0940% |
| Price | 21.95 | |
| S1 | 21.86 | -0.428% |
| S2 | 21.82 | -0.589% |
| S3 | 21.76 | -0.85% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 22.65 | 3.19% |
| R2 | 22.59 | 2.92% |
| R1 | 22.12 | 0.774% |
| Price | 21.95 | |
| S1 | 21.94 | -0.0456% |
| S2 | 21.90 | -0.228% |
| S3 | 21.89 | -0.273% |
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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