Bank of America (NYSE:BAC) Stay Long
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 15.08.
The projected upper bound is: 16.22.
The projected lower bound is: 15.16.
The projected closing price is: 15.69.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 32 white candles and 17 black candles for a net of 15 white candles.
Separating lines occurred. If the lines occur during an uptrend (which appears to be the case with BANK OF AMERICA) and the first line is black and the second is white (which is not the case with BANK OF AMERICA) then this suggests that the uptrend should continue.
If the separating lines occur during a downtrend and the first line is white and the second is black (which is the case with BANK OF AMERICA) then this suggests that the downtrend should continue.
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 39.3940. This is not an overbought or oversold reading. The last signal was a sell 7 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 54.94. 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 6 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 -85. This is not a topping or bottoming area. The last signal was a sell 8 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 5 period(s) ago.
Rex Takasugi – TD Profile
BANK OF AMERICA closed down -0.090 at 15.630. Volume was 16% below average (neutral) and Bollinger Bands were 28% narrower than normal.
Open High Low Close Volume___
15.670 15.835 15.560 15.630 17,243,060
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 15.84 14.83 14.43
Volatility: 15 23 40
Volume: 22,991,326 19,333,482 24,619,412
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 8.3% above its 200-period moving average and is in an upward trend. Volatility is low 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 41 periods. our momentum oscillator has set a new 14-period low while the security price has not. This is a bearish divergence.
Latest posts by HEFFX Australia (see all)
- Intrexon Corp (NYSE:XON) Stock Worth Watching - January 24, 2017
- Endo International plc Ordinary Shares (NASDAQ:ENDP) Heffx Trading Outlook - January 24, 2017
- Seagate Technology PLC (NASDAQ:STX) Volatility is Low in a Downward Trend - January 24, 2017