Bank of America Corp (NYSE:BAC) M. Lawence President of St. Louis Market

Bank of America Corp (NYSE:BAC) M. Lawence President of St. Louis Market

Bank of America Corp (NYSE:BAC) M. Lawence President of St. Louis Market

  • Bank Of America Shareholders About To Be Diluted By Insider Warren Buffett
  • Bank of America has named Michael Lawrence as president of the St. Louis market.
  • Lawrence, 40, replaces Jackie Yoon, who left the bank earlier this year.
  • Lawrence joined Bank of America in 2000 as a financial adviser and also is Merrill Lynch Wealth Management market executive for the St. Louis metro market. During his career at Bank of America, he’s held several leadership positions, including market president for New Mexico, before moving to St. Louis in 2014.

Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in international markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S. Trust, Bank of America Private Wealth Management; Global Banking, which provides a range of lending-related products and services; Global Markets, which offers sales and trading services, and All Other, which consists of equity investments, residual expense allocations and other.

Overall, the bias in prices is: Upwards.

Short term: Prices are stalling.

Intermediate term: Prices are trending.

By the way, prices are vulnerable to a correction towards 23.71.

The projected upper bound is: 25.23.

The projected lower bound is: 23.21.

The projected closing price is: 24.22.

BANK OF AMERICA closed down -0.410 at 24.210. Volume was 8% above average (neutral) and Bollinger Bands were 22% wider than normal.

Open         High          Low           Close         Volume
24.200      24.320      23.820      24.210      92,625,384

Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period        50-period         200-period
Close:                       24.61                23.59                 22.11
Volatility:                20                     28                      30
Volume:                  69,816,248      76,471,096      97,586,384

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.

Summary

BANK OF AMERICA gapped down today (bearish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
BANK OF AMERICA is currently 9.5% 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 volume flowing into and out of BAC at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on BAC and have had this outlook for the last 11 periods.

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.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 28.3583. This is not an overbought or oversold reading. The last signal was a sell 5 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 53.12. 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 buy 62 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 -30. This is not a topping or bottoming area. The last signal was a sell 5 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 0 period(s) ago.

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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