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Advanced TA SearchArchive
- 4/19/2024 -
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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 first positive week for the Bank of America Corp. (BAC). During the week, the BAC gained 1.18 points, or 3.30%, and closed at 36.97 on Friday, April 19, 2024. Weekly volume was 42% above 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 38.35 on April 1, 2024. BAC gained -13.39 points, or -53.65%, in 22 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (38.87) 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 long-term trend.
 Medium-term trend: [See BAC medium-term trend chart]
A medium-term downtrend had started on April 1, 2024 at 38.35 and reached 34.15 on April 16, 2024. BAC lost 4.20 points, or 10.95%, in 2 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The price is near the trend resistance line (37.00). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See BAC weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish 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 above its signal line since November 10, 2023. The distance between MACD and the signal line is low and getting smaller. 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 April 16, 2024 at 34.15 and reached 37.12 on April 19, 2024. BAC gained -2.97 points, or -8.70%, in 3 days. The price is now at the 5.05% retracement level.
Daily Technical Indicators: [See BAC daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since April 3, 2024.
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.
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.
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