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- 6/7/2024 -
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Bank of America Corp. (BAC) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was the negative week for the Bank of America Corp. (BAC). During the week, the BAC gave back -0.21 points, or -0.53%, and closed at 39.78 on Friday, June 7, 2024. Weekly volume was -25% below average.
BAC is a member of Financials Sector. Financials is the second 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 downtrend had started on February 10, 2022 at 50.11 and reached 24.96 on October 27, 2023. BAC lost 25.15 points, or 50.19%, in 89 weeks. The price is now at the 58.93% retracement level.
 Medium-term trend: [See BAC medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 24.96 and reached 40.19 on June 3, 2024. BAC gained -15.23 points, or -61.02%, in 31 weeks. Price is near the trend high.
 Weekly Technical Indicators: [See BAC weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range or strongly overbought weekly Lane's Stochastic. Weekly MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with weekly 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 November 10, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 May 30, 2024 at 37.59 and reached 40.19 on June 3, 2024. BAC gained -2.60 points, or -6.92%, in 4 days. The price is now at the 15.77% retracement level.
 Daily Technical Indicators: [See BAC daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic.
The daily MACD line is below its signal line since June 3, 2024. The distance between MACD and the signal line is low and getting smaller.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Financials |
8 |
| Industry |
Diversified Banks |
81 |
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| Daily Trend |
| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| High |
40.19 |
| High Date |
06/03/2024 |
| Low |
39.28 |
| Low Date |
06/07/2024 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
37.59 |
| Low Date |
05/30/2024 |
| High |
40.19 |
| High Date |
06/03/2024 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
34.15 |
| Low Date |
04/16/2024 |
| High |
40.19 |
| High Date |
06/03/2024 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
24.96 |
| Low Date |
10/27/2023 |
| High |
40.19 |
| High Date |
06/03/2024 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
50.11 |
| High Date |
02/10/2022 |
| Low |
24.96 |
| Low Date |
10/27/2023 |
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