The Greedy Trader Weekly Analysis
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Downtrend exhaustion - Stock Market Timing Signals and trading strategies.
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Bank of America Corp.
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Summary:
Weekly :Broken trend resistance lineLane's Stochastic is oversoldStochastic has raised above the signal line
Daily :Stochastic signal line moved above oversold areaDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARThe price is close to the moving average in the center of the Bollinger Bands
Move cursor over the icon to see details.

It was a first positive week after 3 consecutive negative weeks for the Bank of America Corp. (BAC). During the week, the BAC gained 1.50 points, or 5.68%, and closed at 27.89 on Friday, November 02, 2018. It was the best weekly gain since July 20, 2018. Weekly volume was 14% above 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 (14.07) 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 August 8, 2018 at 31.91 and reached 25.95 on October 26, 2018. BAC lost 5.96 points, or 18.68%, in 11 weeks. The price is now at the 32.55% retracement level.

Weekly Technical Indicators: [See BAC weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. 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 Lane's Stochastic help.

The weekly MACD line is below its signal line since September 21, 2018. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term downtrend is strong. 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 August 27, 2018 at 31.49 and reached 25.95 on October 26, 2018. BAC lost 5.54 points, or 17.59%, in 60 days. The price is now at the 35.02% 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 above oversold area. Such crossover is considered a bullish signal.

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.

The price is close to the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 49.75
Williams' Percentage Range (W%R) 53.90
Lane's Stochastic (%D-Slow) 53.23
Greed/Fear Indicator (GFI) 49.69
Moving Average Converg./Diverg. (MACD) -0.79
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 34.63
Williams' Percentage Range (W%R) 65.40
Lane's Stochastic (%D-Slow) 19.10
Oversold
Greed/Fear Indicator (GFI) 31.09
Moving Average Converg./Diverg. (MACD) 0.05
Trading Signals
Description Value Chart
Upper Bollinger Band 30.20
50 Day Moving Average 29.52
20 Day Moving Average 27.92
Price 27.89
Daily Stochastic Crossing 27.44
Weekly Stochastic Crossing 26.89
Parabolic System 26.15
Lower Bollinger Band 25.73
Sector and Industry
Description Name Rank
Sector Financial 3
Industry Money Center Banks 39
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 31.49
High Date 08/27/2018
Low 25.95
Low Date 10/26/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 31.91
High Date 08/08/2018
Low 25.95
Low Date 10/26/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 33.05
High Date 03/12/2018
Low 25.95
Low Date 10/26/2018
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 17.62
Support 14.07
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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