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Bank of America Corp.
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|It was the negative week for the Bank of America Corp. (BAC). During the week, the BAC dropped -0.32 points, or -1.02%, and closed at 31.19 on Friday, August 10, 2018. It was the worst weekly loss since June 29, 2018. Weekly volume was -35% below average. |
Long-term trend: [See BAC long-term trend chart]
A long-term uptrend had started on February 20, 2009 at 2.53 and reached 33.05 on March 12, 2018. BAC gained -30.52 points, or -1206.32%, in 472 weeks. The chart has formed a Rising Pennant chart pattern. The uptrend resistance line (13.79) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 long-term trend.
Medium-term trend: [See BAC medium-term trend chart]
A medium-term downtrend had started on March 12, 2018 at 33.05 and reached 27.63 on July 6, 2018. BAC lost 5.42 points, or 16.40%, in 16 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (27.18) 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.
During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish 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 July 6, 2018 at 27.63 and reached 31.91 on August 8, 2018. BAC gained -4.28 points, or -15.49%, in 33 days. The price is now at the 16.82% retracement level.
Daily Technical Indicators: [See BAC daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). 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 daily MACD line is above its signal line since July 9, 2018. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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.