Bank of America Corporation Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Green day on Friday for Bank of America Corporation
(Updated on Jun 28, 2024)
The Bank of America Corporation stock price gained 1.78% on the last trading day (Friday, 28th Jun 2024), rising from 36.52€ to 37.17€. During the last trading day the stock fluctuated 2.83% from a day low at 36.38€ to a day high of 37.41€. The price has been going up and down for this period, and there has been a 1.14% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 thousand more shares were traded than the day before. In total, 9 thousand shares were bought and sold for approximately 316.61€ thousand.
The stock lies in the middle of a 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 9.60% during the next 3 months and, with a 90% probability hold a price between 38.77€ and 41.30€ at the end of this 3-month period.
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NCB.F 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 37.00€ and 36.49€. 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 Monday, June 24, 2024, and so far it has fallen -0.81%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Bank of America Corporation stock
Bank of America Corporation finds support from accumulated volume at 36.75€ 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 1.03€ between high and low, or 2.83%. For the last week the stock has had daily average volatility of 2.03%.
Our recommended stop-loss: 35.57€ (-4.28%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 41 days ago.)
Trading Expectations (NCB.F) 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 36.99€, and during the day (based on 14 day Average True Range), to move between 36.51€ and 37.82€, which gives a possible trading interval of +/-0.653€ (+/-1.76%) 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 3.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 37.29€ (0.34%) than the support at 36.75€ (1.13%), 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.
Current score: 3.976 Buy Candidate Unchanged
Predicted Opening Price for Bank of America Corporation of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| 36.99€ ( 0.484%) | 37.17€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NCB.F
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 38.02 | 2.29% |
| R2 | 37.62 | 1.23% |
| R1 | 37.38 | 0.574% |
| Price | 37.17 | |
| S1 | 36.59 | -1.54% |
| S2 | 36.35 | -2.20% |
| S3 | 35.96 | -3.26% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 37.47 | 0.82% |
| R1 | 37.29 | 0.336% |
| Price | 37.17 | |
| S1 | 36.75 | -1.13% |
| S2 | 33.50 | -9.86% |
| S3 | 32.61 | -12.27% |
NCB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 07, 2024 | Jun 07, 2024 | Jun 28, 2024 | 0.224€ | 0% |
| 2 | Feb 29, 2024 | Feb 29, 2024 | Mar 29, 2024 | 0.221€ | 0% |
| 3 | Nov 30, 2023 | Nov 30, 2023 | Dec 29, 2023 | 0.240€ | 0% |
| 4 | Aug 31, 2023 | Aug 31, 2023 | Aug 31, 2023 | 0.240€ | 0% |
| 5 | Jun 01, 2023 | Jun 01, 2023 | Jun 01, 2023 | 0.220€ | 0% |
FAQ
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