Bank Of America Corporation Stock Forecast

Red day on Tuesday for Bank Of America Corporation stock after losing 0.0477%
(Updated on Jun 25, 2024)

BAC-PS 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 $20.86 and $20.66. 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 3.56%. 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 along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The stock had a Golden Star Signal on Thursday, July 20, 2023 in the long-term chart.

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 $20.77 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 $0.0950 between high and low, or 0.454%. For the last week the stock has had daily average volatility of 0.577%

Our recommended stop-loss: $20.04 (-4.32%) (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-PS) 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 $20.96, and during the day (based on 14 day Average True Range), to move between $20.76 and $21.14, which gives a possible trading interval of +/-$0.190 (+/-0.91%) 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 1.82% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $20.77 (0.86%) than the resistance at $21.66 (3.39%), 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: 0.291 Hold/Accumulate Unchanged

Predicted Opening Price for Bank Of America Corporation of Wednesday, June 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.