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Bank of America Technical Analysis - Bank of America Trading: 2023-03-24
Bank of America Technical Analysis Summary
Below 26.78
Sell Stop
Above 28.96
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| Donchian Channel | Sell |
| MA(200) | Sell |
| Fractals | Neutral |
| Parabolic SAR | Sell |
Bank of America Chart Analysis
Bank of America Technical Analysis
The technical analysis of the Bank of America stock price chart on 4-hour timeframe shows #S-BAC,H4 has resumed falling under the 200-day moving average MA(200) which is declining itself. We believe the bearish momentum will continue after the price breaches below the lower boundary of Donchian channel at 26.78. This level can be used as an entry point for placing a pending order to sell. The stop loss can be placed above the fractal high at 28.96. After placing the order, the stop loss is to be moved every day to the next fractal high, following Parabolic indicator signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (28.96) without reaching the order (26.78), we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of Stocks - Bank of America
Bank of America stock fell after Wells Fargo removed Bank of America from its Signature Picks list. Will the Bank of America stock price continue retreating?
Bank of America Corporation is a global banking and financial services company with market capitalization at $186.7 billion. The company is active in four primary segments: Consumer Banking, Global Wealth & Investment Management, Global Banking and Global Markets. The stock is trading at P/E ratio (Trailing Twelve Months) of 8.72 currently, the company earned $92.4 billion revenue (ttm) and Return on Equity (ttm) of 10.13%. Wells Fargo removed Bank of America from its Signature Picks list in a note Wednesday. However it maintained an Overweight rating on the stock with analysts stating "BAC is a leader in tech among banks… and is a goliath at a time when goliath is winning." Shares of Bank of America closed down 3.3% over day after the Wells Fargo note issuance. Over the past six months, shares of Bank of America have lost 17.9%. Industry analysts note however that with highly asset-sensitive balance sheet the Bank of America is expected to benefit from rising interest rates.
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