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Downtrend ResistanceArchive
- 1/3/2025 -
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Bank of America Corp. (BAC) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a second positive week after 3 consecutive negative weeks for the Bank of America Corp. (BAC). During the week, the BAC gained 0.47 points, or 1.06%, and closed at 44.81 on Friday, January 3, 2025. It was the best weekly gain since November 29, 2024. Weekly volume was -47% 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 uptrend had started on October 27, 2023 at 24.96 and reached 48.08 on November 29, 2024. BAC gained -23.12 points, or -92.63%, in 57 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 40.71 and resistance is at 48.96. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a long-term trend.
 Medium-term trend: [See BAC medium-term trend chart]
A medium-term uptrend had started on August 5, 2024 at 35.14 and reached 48.08 on November 29, 2024. BAC gained -12.94 points, or -36.82%, in 16 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (47.03) is broken. A broken support is considered to be a long-term bearish signal. 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 support in a medium-term trend.
 Weekly Technical Indicators: [See BAC weekly technical indicators chart]
Weekly technical indicators are neutral.
During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. 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 December 23, 2024 at 42.78 and reached 44.85 on January 3, 2025. BAC gained -2.07 points, or -4.84%, in 11 days. Price is near the trend high.
Daily Technical Indicators: [See BAC daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since November 29, 2024. The distance between MACD and the signal line is low and getting smaller.
During the last week, the price has moved above 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.
During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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