Bank of America Stock Forecast
Bank of America stock price ended at $37.92 on Thursday, after gaining 0.291%.
(Updated on Mar 28, 2024)
The Bank of America stock price gained 0.291% on the last trading day (Thursday, 28th Mar 2024), rising from $37.81 to $37.92. 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 1.56% from a day low at $37.42 to a day high of $38.00. The price has risen in 7 of the last 10 days and is up by 6.25% 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, 7 million more shares were traded than the day before. In total, 42 million shares were bought and sold for approximately $1.60 billion.
The stock has broken the strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $37.58, a level that may pose a second chance to hit a runner. According to fan-theory $40.30 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 Signals & Forecast
Mostly positive signals in the chart today. The Bank of America 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 $37.28 and $35.12. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, February 13, 2024, and so far it has risen 15.79%. 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.
Support, Risk & Stop-loss for Bank of America stock
On the downside, the stock finds support just below today's level from accumulated volume at $33.61 and $33.55. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Bank of America finds support just below today's level at $33.61. If this is broken, then the next support from accumulated volume will be at $33.55 and $32.80.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.585 between high and low, or 1.56%. For the last week, the stock has had daily average volatility of 1.43%.
Our recommended stop-loss: $36.58 (-3.54%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 31 days ago.)
Trading Expectations (BAC) 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 $37.78, and during the day (based on 14 day Average True Range), to move between $37.24 and $38.60, which gives a possible trading interval of +/-$0.679 (+/-1.79%) 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 3.58% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $33.61, some $4.31 (11.37%) from the current price of $37.92, our system finds the risk reward attractive.
Is Bank of America Corporation stock A Buy?
Bank of America holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 5.781 Strong Buy Candidate Unchanged
Predicted Opening Price for Bank of America Corporation of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$37.78 ( 0.374%) | $37.92 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BAC
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 38.36 | 1.17 % | |
R2 | 38.14 | 0.580 % | ||
R1 | 38.00 | 0.216 % | ||
Current price: | 37.92 | |||
Support | S1 | 37.55 | -0.96 % | |
S2 | 37.42 | -1.33 % | ||
S3 | 37.19 | -1.92 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 37.92 | |||
Support | S1 | 33.61 | -11.37% | |
S2 | 33.55 | -11.52% | ||
S3 | 32.80 | -13.50% |
BAC Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 31, 2024 | Feb 29, 2024 | Mar 29, 2024 | $0.240 | 0.633% |
2 | Oct 18, 2023 | Nov 30, 2023 | Dec 29, 2023 | $0.240 | 0.713% |
3 | Jul 19, 2023 | Aug 31, 2023 | Sep 29, 2023 | $0.240 | 0.88% |
4 | Apr 26, 2023 | Jun 01, 2023 | Jun 30, 2023 | $0.220 | 0.767% |
5 | Feb 01, 2023 | Mar 02, 2023 | Mar 31, 2023 | $0.220 | 0.769% |
FAQ
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