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

The Daily View for Bank of America

  • Currently, BAC’s price is up $0.05 (0.13%) from the day prior.
  • This move is a reversal from the day prior, which saw price move up.
  • From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 day timeframes.
  • 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 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

  • At the moment, BAC’s price is up $0.66 (1.68%) 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.
  • 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 above 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 you may find interesting:

Good up move can be expected in BAC in upcoming days.

trader2n4mmonk