The Greedy Trader Weekly Analysis
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Bank of America Corp.
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Summary:
Weekly :Overbought sectorBroken uptrend resistance line - uptrend exhaustionWilliams' Percentage Range is strongly overboughtStochastic signal line moved below overbought areaLane's Stochastic and MACD bearish divergence
Daily :Williams' Percentage Range is overboughtDaily  MACD line has moved above its signal linePrice is near the Fibonacci 23.6% retracement levelThe price moved above the moving average in the center of the Bollinger Bands
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It was a first positive week for the Bank of America Corp. (BAC). During the week, the BAC gained 1.51 points, or 5.68%, and closed at 28.10 on Friday, December 01, 2017. Weekly volume was 30% above average.

BAC is a member of Financial Sector. Financial 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 uptrend had started on February 20, 2009 at 2.53 and reached 28.72 on November 30, 2017. BAC gained -26.19 points, or -1035.18%, in 457 weeks. The chart has formed a Rising Pennant chart pattern. The uptrend resistance line (12.94) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 June 6, 2017 at 22.07 and reached 28.72 on November 30, 2017. BAC gained -6.65 points, or -30.13%, in 25 weeks. The price is now at the 9.32% retracement level.

Weekly Technical Indicators: [See BAC weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. 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 September 29, 2017. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. 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 November 15, 2017 at 25.81 and reached 28.72 on November 30, 2017. BAC gained -2.91 points, or -11.27%, in 15 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See BAC daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range.

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

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. 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) 75.40
Williams' Percentage Range (W%R) 16.10
Overbought
Lane's Stochastic (%D-Slow) 79.46
Greed/Fear Indicator (GFI) 79.57
Moving Average Converg./Diverg. (MACD) 0.19
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 71.29
Williams' Percentage Range (W%R) 7.90
Strong Overbought
Lane's Stochastic (%D-Slow) 77.67
Bearish
Greed/Fear Indicator (GFI) 79.46
Moving Average Converg./Diverg. (MACD) 0.92 Bearish
Trading Signals
Description Value Chart
Upper Bollinger Band 28.44
Daily Stochastic Crossing 28.36
Price 28.10
Weekly Stochastic Crossing 27.77
20 Day Moving Average 27.04
Parabolic System 26.99
50 Day Moving Average 26.62
Lower Bollinger Band 25.88
Sector and Industry
Description Name Rank
Sector Financial 9
Industry Money Center Banks 124
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 25.81
Low Date 11/15/2017
High 28.72
High Date 11/30/2017
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 22.75
Low Date 09/07/2017
High 28.72
High Date 11/30/2017
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 22.07
Low Date 06/06/2017
High 28.72
High Date 11/30/2017
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 10.99
Low Date 02/11/2016
High 28.72
High Date 11/30/2017
Description Value
Direction Up
Chart Pattern Rising Pennant
Status Broken Resistance
Resistance 17.86
Support 12.94
Low 2.53
Low Date 02/20/2009
High 28.72
High Date 11/30/2017
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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