Bank Of America Corporation Stock Forecast

Stronger technical forecast for Bank Of America Corporation stock price after Monday trading.
(Updated on Jun 24, 2024)

BML-PG 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, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $22.61 and $22.65. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 1.92%. 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 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 $22.55 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 $0.115 between high and low, or 0.507%. For the last week the stock has had daily average volatility of 1.20%

Our recommended stop-loss: $21.41 (-5.67%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 28 days ago.)

Trading Expectations (BML-PG) For The Upcoming Trading Day Of Tuesday 25th

For the upcoming trading day on Tuesday, 25th we expect Bank Of America Corporation to open at $22.74, and during the day (based on 14 day Average True Range), to move between $22.44 and $22.96, which gives a possible trading interval of +/-$0.255 (+/-1.12%) 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 2.25% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $22.72 (0.09%) than the support at $22.55 (0.66%), 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?

Several short-term signals, along with a general good trend, 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.057 Buy Candidate Upgraded

Predicted Opening Price for Bank Of America Corporation of Tuesday, June 25, 2024

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