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Advanced TA SearchArchive
- 10/11/2024 -
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Bank of America Corp. (BAC) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a second consecutive positive week for the Bank of America Corp. (BAC). During the week, the BAC gained 1.84 points, or 4.59%, and closed at 41.95 on Friday, October 11, 2024. Weekly volume was -24% 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 44.44 on July 17, 2024. BAC gained -19.48 points, or -78.04%, in 37 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 38.01 and resistance is at 48.79. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.
 Medium-term trend: [See BAC medium-term trend chart]
A medium-term downtrend had started on July 17, 2024 at 44.44 and reached 35.14 on August 5, 2024. BAC lost 9.30 points, or 20.93%, in 2 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (40.44) is broken. A broken support is considered to be a long-term bullish 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 resistance line in a medium-term trend.
 Weekly Technical Indicators: [See BAC weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since August 2, 2024. This is an indication that the medium-term trend is down. 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 September 11, 2024 at 38.01 and reached 42.17 on October 11, 2024. BAC gained -4.16 points, or -10.94%, in 30 days. The price is now at the 5.29% retracement level.
Daily Technical Indicators: [See BAC daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since October 3, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.
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 has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. 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.
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