The Greedy Trader Weekly Analysis
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Bank of America Corp.
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Summary:
Weekly :Broken trend support lineOversold sectorBroken trend resistance line
Daily :The price has fallen below the Parabolic SARLane's Stochastic bullish divergenceThe price touches the lower Bollinger Band
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It was the negative week for the Bank of America Corp. (BAC). During the week, the BAC dropped -1.77 points, or -5.86%, and closed at 28.46 on Friday, October 12, 2018. Weekly volume was 24% above average.

BAC is a member of Financial Sector. Financial is the second most oversold 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 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 (14.00) 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 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 4 weeks. The chart has formed a Rising Pennant chart pattern. The uptrend support line (33.86) 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 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 September 21, 2018. Use the following link to access a MACD help.

Short-term trend: [See BAC short-term trend chart]
A short-term downtrend had started on August 8, 2018 at 31.91 and reached 27.73 on October 12, 2018. BAC lost 4.18 points, or 13.10%, in 65 days. The price is now at the 17.46% retracement level.

Daily Technical Indicators: [See BAC daily technical indicators chart]
Daily technical indicators are neutral. Daily Lane's Stochastic has bullish 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 bullish 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 link to access Lane's Stochastic help.

The daily MACD line is below its signal line since October 8, 2018. This is an indication that the short-term trend is down.

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.

The price touches the lower Bollinger Band. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 25.43
Williams' Percentage Range (W%R) 65.40
Lane's Stochastic (%D-Slow) 28.44
Bullish
Greed/Fear Indicator (GFI) 29.50
Moving Average Converg./Diverg. (MACD) -0.27
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.20
Williams' Percentage Range (W%R) 68.20
Lane's Stochastic (%D-Slow) 35.20
Greed/Fear Indicator (GFI) 37.64
Moving Average Converg./Diverg. (MACD) 0.30
Trading Signals
Description Value Chart
Weekly Trendline Support 33.86
Upper Bollinger Band 31.38
50 Day Moving Average 30.60
Parabolic System 30.54
Weekly Trendline Resistance 30.42
20 Day Moving Average 30.04
Weekly Stochastic Crossing 28.80
Price 28.46
Lower Bollinger Band 28.40
Daily Stochastic Crossing 28.31
Sector and Industry
Description Name Rank
Sector Financial 2
Industry Money Center Banks 56
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 31.91
High Date 08/08/2018
Low 27.73
Low Date 10/12/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Pennant
Status Broken Support
Resistance 30.42
Support 33.86
Low 27.63
Low Date 07/06/2018
High 31.91
High Date 08/08/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 33.05
High Date 03/12/2018
Low 27.63
Low Date 07/06/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 10.99
Low Date 02/11/2016
High 33.05
High Date 03/12/2018
Description Value
Direction Up
Chart Pattern Rising Pennant
Status Broken Resistance
Resistance 17.63
Support 14.00
Low 2.53
Low Date 02/20/2009
High 33.05
High Date 03/12/2018
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.

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