Bank of America (NYSE:BAC) Extraordinary Price Action to the Upside
Overall, the bias in prices is: Upwards.
Short term: Prices are moving.
Intermediate term: Prices are trending.
Note: this chart shows extraordinary price action to the upside.
By the way, prices are vulnerable to a correction towards 15.09.
The projected upper bound is: 16.25.
The projected lower bound is: 15.20.
The projected closing price is: 15.73.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 32 white candles and 17 black candles for a net of 15 white candles.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 27.7778. This is not an overbought or oversold reading. The last signal was a sell 8 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 55.92. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 7 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -106.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 9 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 6 period(s) ago.
Rex Takasugi – TD Profile
BANK OF AMERICA closed up 0.040 at 15.670. Volume was 25% below average (neutral) and Bollinger Bands were 33% narrower than normal.
Open High Low Close Volume___
15.610 15.740 15.600 15.670 15,528,248
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 15.80 14.89 14.42
Volatility: 16 23 40
Volume: 21,337,994 19,205,048 24,612,690
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
BANK OF AMERICA is currently 8.6% above its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume into BAC.N (mildly bullish). Our trend forecasting oscillators are currently bullish on BAC.N and have had this outlook for the last 42 periods.
Latest posts by HEFFX Australia (see all)
- Alphabet Inc. (NASDAQ:GOOG) Technicals at a Glance - May 24, 2018
- NASDAQ Composite (.IXIC) A Look Inside the Daily Technicals - May 24, 2018
- Apple Inc. (NASDAQ:AAPL) Stock Overbought - May 24, 2018