Bank Of America Corporation Stock Forecast
Green day on Tuesday for Bank Of America Corporation stock after gaining 0.0543%
(Updated on Jun 25, 2024)
The Bank Of America Corporation stock price gained 0.0543% on the last trading day (Tuesday, 25th Jun 2024), rising from $18.41 to $18.42. During the last trading day the stock fluctuated 0.489% from a day low at $18.38 to a day high of $18.47. The price has risen in 6 of the last 10 days and is up by 1.1% 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, 28 thousand more shares were traded than the day before. In total, 57 thousand shares were bought and sold for approximately $1.04 million.
The stock is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Bank Of America Corporation stock with a 90% probability to be traded between $18.51 and $18.91 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-PP 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 $18.39 and $18.28. 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 Friday, June 21, 2024, and so far it has fallen -0.163%. Further fall is indicated until a new bottom pivot has been found.
A sell signal from a double top formation was found on Friday, June 21, 2024 and based on theory for this formation the price should fall by -2.68% to $17.93 within 10 trading days since signal was issued (Monday, July 08, 2024).
Support, Risk & Stop-loss for Bank Of America Corporation stock
Bank Of America Corporation finds support from accumulated volume at $18.40 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 $0.0898 between high and low, or 0.489%. For the last week the stock has had daily average volatility of 0.681%.
Our recommended stop-loss: $17.68 (-4.02%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (BAC-PP) 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 $18.42, and during the day (based on 14 day Average True Range), to move between $18.25 and $18.59, which gives a possible trading interval of +/-$0.167 (+/-0.90%) 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 1.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $18.40 (0.11%) than the resistance at $18.45 (0.16%), 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 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: 3.041 Buy Candidate Unchanged
Predicted Opening Price for Bank Of America Corporation of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $18.42 ( 0.0177%) | $18.42 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BAC-PP
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 18.51 | 0.505% |
| R2 | 18.48 | 0.319% |
| R1 | 18.46 | 0.204% |
| Price | 18.42 | |
| S1 | 18.39 | -0.168% |
| S2 | 18.37 | -0.284% |
| S3 | 18.33 | -0.470% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 18.45 | 0.163% |
| Price | 18.42 | |
| S1 | 18.40 | -0.109% |
| S2 | 18.29 | -0.706% |
| S3 | 18.27 | -0.81% |
BAC-PP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 15, 2024 | Jul 15, 2024 | Aug 02, 2024 | $0.258 | 1.40% |
| 2 | Apr 12, 2024 | Apr 12, 2024 | May 02, 2024 | $0.258 | 1.41% |
| 3 | Jan 11, 2024 | Jan 11, 2024 | Feb 02, 2024 | $0.258 | 1.36% |
| 4 | Oct 12, 2023 | Oct 12, 2023 | Nov 02, 2023 | $0.258 | 1.53% |
| 5 | Jul 13, 2023 | Jul 13, 2023 | Aug 02, 2023 | $0.258 | 1.45% |
FAQ
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