Bank of America Enters Today Down -0.84%

The Daily View for Bank of America

  • At the moment, BAC’s price is down $-0.14 (-0.35%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as Bank of America has now gone up 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.
  • Price action traders may also wish to note that we see a doji candlestick pattern on Bank of America. Given that we see downtrend on the 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.

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 down $-0.33 (-0.84%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved up.
  • As for the trend on the daily timeframe, we see the clearest trend on the 20 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 Commentary From Twitter

BofA: “Based on aggregated BAC credit and debit card data, total card spending increased 67% on a 1-year change and 20% on a 2-year change, over the 7-days ending April 3rd.”NA

calculatedrisk