Bank of America (BAC) Price Near $25.36; Nears 50 Day Moving Average

The Hourly View for BAC

Last Updated September 17, 2020, 23:11 GMT

At the time of this writing, BAC’s price is down $-0.31 (-1.23%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Of note is that the 20 hour changed directions on BAC; it is now pointing up. 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 back and forth price flow continues for Bank Of America Corp, which started today off at 25.35 US dollars, down 0.98% ($0.25) from yesterday. This move happened on lower volume, as yesterday’s volume was down 26.85% from the day before — and down 36.86% from the same day the week before. Let’s take a look at the daily price chart of Bank Of America Corp.


Bank Of America Corp Technical Analysis

Notably, the current price of Bank Of America Corp is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Or to view things another way, note that out of the past 10 days Bank Of America Corp’s price has gone up 5 them.

Overheard Around the Web

Here’s what one trader on StockTwits recently had to say in regards to BAC:

    $XLF $KRE $JPM $BAC $C The main reason for the Stress test now is that the Federal Reserve is, drum roll please, bored. Markets are humming along very well and they don't have anything constructive to do as they already set the rates at 0 for the next 3 years.

    So, what do they do in the mean time? Let's poke around the banks and see whether there are issues… Funny thing is that we were at 20% unemployment just few months ago and nothing happened to the banks as they all hoarded heavy reserves for the potential losses and now they are testing for 12.5% unemployment? Are thy for kidding me?!?

    SImply put, it is a joke and the financials will be up nicely going forward, IMHO!