The Greedy Trader Weekly Analysis
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Bank of America Corp.
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Summary:
Weekly :Broken trend resistance lineWilliams' Percentage Range is oversold
Daily :Lane's Stochastic oversoldWilliams' Percentage Range is strongly oversoldRelative Strength Index and MACD bullish divergence
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It was the negative week for the Bank of America Corp. (BAC). During the week, the BAC gave back -0.16 points, or -0.57%, and closed at 28.03 on Friday, July 06, 2018. Weekly volume was -36% 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 (13.66) 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 price is now at the 7.38% retracement level.

Weekly Technical Indicators: [See BAC weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly oversold Williams' Percentage Range. 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 Williams' Percentage Range help.

The weekly MACD line is below its signal line since March 16, 2018. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term downtrend is strong. 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 June 11, 2018 at 30.41 and reached 27.63 on July 6, 2018. BAC lost 2.78 points, or 9.14%, in 25 days. The price is now at the 14.39% retracement level.

Daily Technical Indicators: [See BAC daily technical indicators chart]
Daily Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Lane's Stochastic or strongly oversold daily Williams' Percentage Range. Daily Relative Strength Index and MACD have bullish divergence. Use the following links to access the Relative Strength Index and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index and MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following links to access Lane's Stochastic and Relative Strength Index help.

The daily MACD line is below its signal line since June 14, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 30.77
Bullish
Williams' Percentage Range (W%R) 93.50
Strong Oversold
Lane's Stochastic (%D-Slow) 15.38
Oversold
Greed/Fear Indicator (GFI) 17.54
Oversold
Moving Average Converg./Diverg. (MACD) -0.42 Bullish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 37.24
Williams' Percentage Range (W%R) 96.70
Strong Oversold
Lane's Stochastic (%D-Slow) 27.87
Greed/Fear Indicator (GFI) 25.20
Moving Average Converg./Diverg. (MACD) 0.49
Trading Signals
Description Value Chart
Upper Bollinger Band 30.22
50 Day Moving Average 29.63
20 Day Moving Average 28.94
Parabolic System 28.77
Weekly Stochastic Crossing 28.55
Price 28.03
Daily Stochastic Crossing 27.88
Lower Bollinger Band 27.36
Sector and Industry
Description Name Rank
Sector Financial 3
Industry Money Center Banks 43
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 30.41
High Date 06/11/2018
Low 27.63
Low Date 07/06/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 31.36
High Date 05/15/2018
Low 27.63
Low Date 07/06/2018
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 17.70
Support 13.66
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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