Bank of America Corp (NYSE:BAC) Leasing Space In Paris, France
- Bank of America has signed a lease for office space in Paris, cementing plans to move its European trading hub to France after Brexit, Bloomberg reported on Wednesday, citing people familiar with the decision.
- BofA has agreed to rent about 100,000 square feet of space – large enough to accommodate a thousand workers, Bloomberg said. However, bank executives are considering possibly subleasing some of the space to other tenants, Bloomberg said, citing the people.
- The bank leased space in a building that is being modernized by a unit of France’s postal service, La Poste, which owns the building, Bloomberg said.
- Bank of America representatives could not immediately be reached for comment.
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.
Note: this chart shows extraordinary price action to the upside.
By the way, prices are vulnerable to a correction towards 24.68.
The projected upper bound is: 26.40.
The projected lower bound is: 24.53.
The projected closing price is: 25.47.
BANK OF AMERICA closed down -0.380 at 25.450. Volume was 4% above average (neutral) and Bollinger Bands were 3% narrower than normal.
Open High Low Close Volume
25.870 25.930 25.340 25.450 71,770,032
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 25.79 24.52 23.84
Volatility: 19 24 27
Volume: 57,084,984 64,664,076 81,410,536
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 6.8% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. 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 18 periods. our momentum oscillator has set a new 14-period low while the security price has not. This is a bearish divergence.
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 24.8890. This is not an overbought or oversold reading. The last signal was a sell 3 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 54.96. 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 3 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 -6. This is not a topping or bottoming area. The last signal was a sell 3 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 0 period(s) ago.