Bank of America May Be Offering a Trading Opportunity With Its Cross Above Its 20 Moving Average

The Daily View for Bank of America

  • Currently, BAC’s price is down $-0.07 (-0.18%) 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.
  • From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 day timeframes.
  • 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.

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

BAC

The Daily View for Bank of America

  • Currently, BAC’s price is down $-0.74 (-1.89%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved up.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 day timeframe.
  • Most noteworthy in the world of moving averages on the daily chart is that the 20 day moving average has been crossed, with price now being below it. 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 VS 224 D CYCLE you may find interesting:

CYCLE LENGHT: 224 DAYS OR (32 WEEKS – 7.5 MONTHS – ♀H)NEXT TOP: 04 MAYNEXT BOT: 09 JUNELIKE AND FOLLOW FOR MORE BANK OF AMERICA COMPANY (BAC) CYCLES.PLEASE DROP A COMMENT IF YOU LIKED THE IDEA AND FEEL FREE TO POST YOUR OWN SET UPS.*THIS IS NOT FINANCIAL ADVICE*

Astalego