The Greedy Trader Weekly Analysis
Sign In Jul 20, 2018
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Number of records: 2
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Bank of America Corp.
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Summary:
Weekly :Broken trend resistance lineWilliams' Percentage Range is oversold
Daily :Stochastic signal line moved above oversold areaDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SAR
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It was a first positive week after 4 consecutive negative weeks for the Bank of America Corp. (BAC). During the week, the BAC gained 0.52 points, or 1.86%, and closed at 28.55 on Friday, July 13, 2018. Weekly volume was -13% below average.

Long-term trend: [See BAC long-term trend chart]
A long-term uptrend had started on February 20, 2009 at 2.53 and reached 33.05 on March 12, 2018. BAC gained -30.52 points, or -1206.32%, in 472 weeks. The chart has formed a Rising Pennant chart pattern. The uptrend resistance line (13.69) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See BAC medium-term trend chart]
A medium-term downtrend had started on March 12, 2018 at 33.05 and reached 27.63 on July 6, 2018. BAC lost 5.42 points, or 16.40%, in 16 weeks. The price is now at the 16.97% retracement level.

Weekly Technical Indicators: [See BAC weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.

The weekly MACD line is below its signal line since March 16, 2018. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term downtrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.

Short-term trend: [See BAC short-term trend chart]
A short-term downtrend had started on May 15, 2018 at 31.36 and reached 27.63 on July 6, 2018. BAC lost 3.73 points, or 11.89%, in 52 days. The chart has formed a Falling Channel chart pattern. The trend support level is at 27.16 and resistance is at 29.47. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a short-term trend.

Daily Technical Indicators: [See BAC daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Use the following link to access Lane's Stochastic help.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 44.91
Williams' Percentage Range (W%R) 47.60
Lane's Stochastic (%D-Slow) 69.15
Greed/Fear Indicator (GFI) 55.48
Moving Average Converg./Diverg. (MACD) -0.35
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 43.11
Williams' Percentage Range (W%R) 81.70
Oversold
Lane's Stochastic (%D-Slow) 25.96
Greed/Fear Indicator (GFI) 30.39
Moving Average Converg./Diverg. (MACD) 0.39
Trading Signals
Description Value Chart
Upper Bollinger Band 29.74
50 Day Moving Average 29.51
Weekly Trendline Resistance 29.47
Daily Stochastic Crossing 28.71
20 Day Moving Average 28.67
Price 28.55
Weekly Stochastic Crossing 28.34
Parabolic System 27.86
Lower Bollinger Band 27.81
Weekly Trendline Support 27.16
Sector and Industry
Description Name Rank
Sector Financial 3
Industry Money Center Banks 43
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 27.63
Low Date 07/06/2018
High 29.33
High Date 07/10/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Valid
Resistance 29.47
Support 27.16
High 31.36
High Date 05/15/2018
Low 27.63
Low Date 07/06/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 33.05
High Date 03/12/2018
Low 27.63
Low Date 07/06/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 10.99
Low Date 02/11/2016
High 33.05
High Date 03/12/2018
Description Value
Direction Up
Chart Pattern Rising Pennant
Status Broken Resistance
Resistance 17.70
Support 13.69
Low 2.53
Low Date 02/20/2009
High 33.05
High Date 03/12/2018
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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