The Greedy Trader Weekly Analysis
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Weekly W%R:> 90
Number of records: 10
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Williams' Percentage Range (W%R)

Williams' %R is an effective momentum indicator that measures overbought/oversold levels. Like other indicators, W%R ranges between 0% and 100% , but in opposite to the other indicators, the 0% indicating overbought and 100% - the oversold stocks. W%R measures the closing price in relation to the recent low/high range. A bullish signal is generated when the W%R has reached 100, five time bars have elapsed, and the W%R has subsequently fallen to 95. A reverse signal is considered as bearish. For the sake of simplicity, the W%R closed above 10% is considered bearish and below 90% - bullish. In trending markets, the W%R stays at one end of the scale and gives false signals to trade against the trend. That is why W%R is not considered a stand-along technique, and it is essential to use it with some sort of trend formation indicators. The divergence between price and W%R rarely occurs and presents an important buy/sell signal. As our research shows, the W%R move to upper or lower bounds can be used as an earliest signal of an impending reversal. Using the Williams %R bullish divergence/bearish divergence, chart patterns, trendlines, support, and resistance lines along with the W%R chart can be very useful.

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- 5/31/2024 -
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Bank of America Corp. (BAC) Technical Analysis

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Summary:
Weekly :Overbought sectorWilliams' Percentage Range and Lane's Stochastic are overboughtLane's Stochastic and MACD bearish divergencePrice is near the Fibonacci 61.8% retracement level
Daily :Stochastic signal line moved below overbought areaLane's Stochastic bearish divergenceDaily  MACD line has moved below its signal line
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It was a fourth consecutive positive week for the Bank of America Corp. (BAC). During the week, the BAC climbed 0.29 points, or 0.73%, and closed at 39.99 on Friday, May 31, 2024. BAC was trading at average weekly trading volume.

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 downtrend had started on February 10, 2022 at 50.11 and reached 24.96 on October 27, 2023. BAC lost 25.15 points, or 50.19%, in 89 weeks. Price is near the Fibonacci 61.8% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Medium-term trend: [See BAC medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 24.96 and reached 40.08 on May 31, 2024. BAC gained -15.12 points, or -60.58%, in 31 weeks. Price is near the trend high.

Weekly Technical Indicators: [See BAC weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. Weekly Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly 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. 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 November 10, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 May 30, 2024 at 37.59 and reached 40.08 on May 31, 2024. BAC gained -2.49 points, or -6.62%, in 1 days. Price is near the trend high.

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 below overbought area. Such crossover is considered a bearish signal. Daily Lane's Stochastic has bearish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic bearish divergence.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 62.26
Williams' Percentage Range (W%R) 46.00
Lane's Stochastic (%D-Slow) 59.91
Bearish
Greed/Fear Indicator (GFI) 58.72
Moving Average Converg./Diverg. (MACD) 0.58
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 72.54
Williams' Percentage Range (W%R) 15.70
Overbought
Lane's Stochastic (%D-Slow) 86.49
Overbought Bearish
Greed/Fear Indicator (GFI) 76.79
Moving Average Converg./Diverg. (MACD) 1.79 Bearish
Trading Signals
Description Value Chart
Upper Bollinger Band 40.24
Price 39.99
Weekly Stochastic Crossing 39.47
Daily Stochastic Crossing 38.89
20 Day Moving Average 38.75
50 Day Moving Average 37.74
Parabolic System 37.55
Lower Bollinger Band 37.23
Sector and Industry
Description Name Rank
Sector Financials 9
Industry Diversified Banks 98
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 37.59
Low Date 05/30/2024
High 40.08
High Date 05/31/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 37.59
Low Date 05/30/2024
High 40.08
High Date 05/31/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 34.15
Low Date 04/16/2024
High 40.08
High Date 05/31/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 24.96
Low Date 10/27/2023
High 40.08
High Date 05/31/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 50.11
High Date 02/10/2022
Low 24.96
Low Date 10/27/2023
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.