Bank of America Does it Again: Heads Up for the 2nd Straight Day

The Daily View for Bank of America

  • At the time of this writing, BAC’s price is down $-0.19 (-0.48%) 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.
  • If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 day timeframes.
  • Of note is that the 20 day changed directions on BAC; it is now pointing down. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

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

BAC

The Daily View for Bank of America

  • At the moment, BAC’s price is up $0.06 (0.16%) from the day prior.
  • This is the 2nd day in a row Bank of America has seen its price head up.
  • As for the trend on the daily timeframe, we see the clearest trend on the 100 day timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Bank of America. Given that we see an uptrend on the 20 and 10 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Below is a daily price chart of Bank of America.

BAC

Featured Bank of America Idea From TradingView

Below is a trading comment entitled $BAC Before earnings you may find interesting:

Bank of America is again near it’s all time highs, close to testing again for a breakout. Earnings this week should confirm movement on the strong uptrend that we have seen since March lows. There is a slight divergence on the RSI indica…

Modus777