Bank of America (BAC) Closes Last Hour Up $0.06; Price Base in Formation Over Past 30 Days

The Hourly View for BAC

Last Updated September 14, 2020, 23:6 GMT

Currently, BAC’s price is up $0.3 (1.18%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 100 hour moving average has been crossed, with price now being above it. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50 and 100 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Bank Of America Corp Daily Price Recap

The choppiness in the recent daily price action of Bank Of America Corp continues; to start today, it came in at a price of 25.5 US dollars, up 1.43% ($0.36) since yesterday. The price move occurred on volume that was down 15.65% from the day prior, but up 3.45% from the same day the week before. Here is a daily price chart of Bank Of America Corp.


Bank Of America Corp Technical Analysis

Coming into today Bank Of America Corp is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For another vantage point, consider that Bank Of America Corp’s price has gone up 8 of the previous 14 trading days.

Overheard Around the Web

Over on StockTwits, here’s an example of what they’re saying about BAC:

    $BAC, $MTB, $PFG Comparing S&P Financials

    Bank of America Corp Price to free cash flow is 61,777,000,000
    M&T Bank Corp. Price to free cash flow is 2,357,555,000
    Principal Financial Group Price to free cash flow is 5,493,200,000

    Price to free cash flow is an equity valuation metric used to compare a companys per share market price to its per share amount of free cash flow.

    Do you look at free cash flow when investing? Which is best to add to my portfolio?