BAC’s Price May Be in An Uptrend, but RSI Suggests Caution

The Hourly View for Bank of America

  • At the moment, BAC’s price is up $0.02 (0.05%) from the hour prior.
  • The hourly chart shows that Bank of America has seen 3 straight up hours.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
  • The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Bank of America’s hourly price chart is shown below.

BAC

The Daily View for Bank of America

  • Currently, BAC’s price is up $0.18 (0.45%) from the day prior.
  • It’s been a feast for bears operating on the daily timeframe, as Bank of America has now gone down 4 of the past 5 days.
  • Regarding the trend, note that the strongest trend exists on the 100 day timeframe.
  • The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
  • Divergence alert: Trend in BAC’s price and its RSI are diverging. BAC’s price is rising slower than its RSI.

Below is a daily price chart of Bank of America.

BAC

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