The Greedy Trader Weekly Analysis
Sign In Nov 15, 2019
Skip Navigation Links
TA Search
Monthly Price vs. Trendline:Broken Support
Number of records: 10
Symbol:  

• Symbol Lookup
• Add to Watch List
• Candlestick Patterns - N/A
• Stock Technical Indicators
• Stock Trends Analysis
• Market Sector Rank
• Stock Trading Signals
Trend Line Resistance Trend Line Support Resistance.
Trendline support resistance provides an excellent buy/sell signals in trending market. On an uptrend, buy around the support trend line level and place a stop order below the trend line support. Take profit on the trend line resistance level. Reverse the technique in a downtrend. Short around the resistance trend line level and place a stop order above the trend line resistance.
Resistance Trend Line,Trend Line Resistance,Trend Line Support,Support Resistance,support and resistance,chart trend line,trend support

Bank of America Corp. (BAC)

Subscribe to TheGreedyTrader Weekly Alerts
Summary:
Weekly :Overbought sectorBroken uptrend resistance line - uptrend exhaustionLane's Stochastic is overboughtWilliams' Percentage Range is strongly overbought
Daily :Williams' Percentage Range and Lane's Stochastic are overboughtRelative Strength Index, Lane's Stochastic and MACD bearish divergenceThe price has risen above the Parabolic SAR
Move cursor over the icon to see details.

It was a fifth positive week after 3 consecutive negative weeks for the Bank of America Corp. (BAC). During the week, the BAC gained 1.46 points, or 4.59%, and closed at 33.26 on Friday, November 8, 2019. It was the best weekly gain since September 13, 2019. Weekly volume was -29% below average.

BAC is a member of Financial Sector. Financial is the second 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 uptrend had started on December 24, 2018 at 22.66 and reached 33.60 on November 7, 2019. BAC gained -10.94 points, or -48.28%, in 45 weeks. The chart has formed a Broadening Symmetric Wedge chart pattern. The uptrend resistance line (25.96) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 uptrend had started on August 15, 2019 at 26.21 and reached 33.60 on November 7, 2019. BAC gained -7.39 points, or -28.20%, in 12 weeks. Price is near the trend high.

Weekly Technical Indicators: [See BAC weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly 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 links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since October 11, 2019. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.

Short-term trend: [See BAC short-term trend chart]
A short-term uptrend had started on October 3, 2019 at 27.16 and reached 33.60 on November 7, 2019. BAC gained -6.44 points, or -23.71%, in 35 days. The chart has formed a Rising Channel chart pattern. The trend support level is at 32.61 and resistance is at 33.71. A Rising 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 Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a short-term trend.

Daily Technical Indicators: [See BAC daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic. Daily Relative Strength Index, Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index, Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following link to access Relative Strength Index help.

The daily MACD line is above its signal line since October 14, 2019. This is an indication that the short-term trend is up.

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) 77.86
Bearish
Williams' Percentage Range (W%R) 10.90
Overbought
Lane's Stochastic (%D-Slow) 88.68
Overbought Bearish
Greed/Fear Indicator (GFI) 85.22
Overbought
Moving Average Converg./Diverg. (MACD) 0.86 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 64.59
Williams' Percentage Range (W%R) 7.20
Strong Overbought
Lane's Stochastic (%D-Slow) 83.80
Overbought
Greed/Fear Indicator (GFI) 81.10
Overbought
Moving Average Converg./Diverg. (MACD) 0.22
Trading Signals
Description Value Chart
Upper Bollinger Band 33.72
Weekly Trendline Resistance 33.71
Price 33.26
Daily Stochastic Crossing 33.25
Weekly Stochastic Crossing 33.11
Weekly Trendline Support 32.61
Quarterly Trendline Resistance 31.76
20 Day Moving Average 31.47
Parabolic System 31.28
50 Day Moving Average 29.86
Lower Bollinger Band 29.28
Sector and Industry
Description Name Rank
Sector Financial 8
Industry Money Center Banks 147
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 30.82
Low Date 10/31/2019
High 33.60
High Date 11/07/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 33.71
Support 32.61
Low 27.16
Low Date 10/03/2019
High 33.60
High Date 11/07/2019
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 26.21
Low Date 08/15/2019
High 33.60
High Date 11/07/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Symmetric Wedge
Status Broken Resistance
Resistance 31.76
Support 25.96
Low 22.66
Low Date 12/24/2018
High 33.60
High Date 11/07/2019
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 2.53
Low Date 02/20/2009
High 33.60
High Date 11/07/2019
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.

Copyright© 2004-2018 All rights reserved.