Bank Of America Corporation Stock Forecast
Bank Of America Corporation stock price down 0.222% on Thursday
(Updated on May 23, 2024)
The Bank Of America Corporation stock price fell by -0.222% on the last day (Thursday, 23rd May 2024) from $22.60 to $22.55. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.20% from a day low at $22.47 to a day high of $22.74. The price has risen in 5 of the last 10 days but is still down by -0.55% for this period. Volume has increased on the last day by 7 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 14 thousand shares were bought and sold for approximately $323.93 thousand.
The stock lies in the middle of a narrow and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 5.28% during the next 3 months and, with a 90% probability hold a price between $23.54 and $24.32 at the end of this 3-month period.
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BML-PG Signals & Forecast
The Bank Of America Corporation stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $22.66. On a fall, the stock will find some support from the long-term average at approximately $22.42. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Monday, May 13, 2024, and so far it has fallen -1.74%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Bank Of America Corporation gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The stock had a Golden Star Signal on Friday, January 05, 2024 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.
Golden Star 12 Months
The stock had a Golden Star Signal on Friday, January 05, 2024 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 $22.33 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 $0.270 between high and low, or 1.20%. For the last week the stock has had daily average volatility of 1.08%.
Our recommended stop-loss: $21.80 (-3.32%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 28 days ago.)
Trading Expectations (BML-PG) For The Upcoming Trading Day Of Friday 24th
For the upcoming trading day on Friday, 24th we expect Bank Of America Corporation to open at $22.59, and during the day (based on 14 day Average True Range), to move between $22.27 and $22.83, which gives a possible trading interval of +/-$0.275 (+/-1.22%) 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 2.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $22.69 (0.62%) than the support at $22.33 (0.98%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Bank Of America Corporation stock A Buy?
Bank Of America Corporation holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.244 Hold/Accumulate Unchanged
Predicted Opening Price for Bank Of America Corporation of Friday, May 24, 2024
Fair opening price May 24, 2024 | Current price |
---|---|
$22.59 ( 0.163%) | $22.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BML-PG
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 22.86 | 1.36 % | |
R2 | 22.75 | 0.90 % | ||
R1 | 22.69 | 0.620 % | ||
Current price: | 22.55 | |||
Support | S1 | 22.48 | -0.295 % | |
S2 | 22.42 | -0.577 % | ||
S3 | 22.32 | -1.03 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 22.95 | 1.77 % | |
R2 | 22.72 | 0.754 % | ||
R1 | 22.69 | 0.621 % | ||
Current price | 22.55 | |||
Support | S1 | 22.33 | -0.98% | |
S2 | 22.23 | -1.42% | ||
S3 | 21.79 | -3.37% |
BML-PG Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 14, 2024 | May 14, 2024 | May 28, 2024 | $0 | 0% |
2 | Feb 14, 2024 | Feb 14, 2024 | Feb 28, 2024 | $0 | 0% |
3 | Nov 14, 2023 | Nov 14, 2023 | Nov 28, 2023 | $0.400 | 1.92% |
4 | Aug 14, 2023 | Aug 14, 2023 | Aug 14, 2023 | $0.388 | 1.90% |
5 | May 12, 2023 | May 12, 2023 | May 12, 2023 | $0.357 | 1.77% |
FAQ
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