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S&P 500 Overbought StocksArchive
- 5/3/2024 -
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Bank of America Corp. (BAC) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was the negative week for the Bank of America Corp. (BAC). During the week, the BAC dropped -0.59 points, or -1.56%, and closed at 37.24 on Friday, May 3, 2024. Weekly volume was -27% below average.
BAC is a member of Financials Sector. Financials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See BAC long-term trend chart]
A long-term downtrend had started on February 10, 2022 at 50.11 and reached 24.96 on October 27, 2023. BAC lost 25.15 points, or 50.19%, in 89 weeks. The price is now at the 48.83% retracement level.
 Medium-term trend: [See BAC medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 24.96 and reached 38.49 on April 24, 2024. BAC gained -13.53 points, or -54.21%, in 25 weeks. The price is now at the 9.24% retracement level.
 Weekly Technical Indicators: [See BAC weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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 above its signal line since November 10, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 April 24, 2024 at 38.49 and reached 36.65 on May 2, 2024. BAC lost 1.84 points, or 4.78%, in 8 days. The price is now at the 32.07% retracement level.
 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 below overbought area. Such crossover is considered a bearish signal. Use the following link to access Lane's Stochastic help.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Financials |
9 |
| Industry |
Diversified Banks |
104 |
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| Daily Trend |
| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Low |
36.65 |
| Low Date |
05/02/2024 |
| High |
37.53 |
| High Date |
05/03/2024 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
38.49 |
| High Date |
04/24/2024 |
| Low |
36.65 |
| Low Date |
05/02/2024 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
34.15 |
| Low Date |
04/16/2024 |
| High |
38.49 |
| High Date |
04/24/2024 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
24.96 |
| Low Date |
10/27/2023 |
| High |
38.49 |
| High Date |
04/24/2024 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
50.11 |
| High Date |
02/10/2022 |
| Low |
24.96 |
| Low Date |
10/27/2023 |
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