Bank of America Corp (NYSE:BAC) Trading Outlook
BANK OF AMERICA closed down -0.100 at 13.440. Volume was 98% below average (consolidating) and Bollinger Bands were 15% narrower than normal.
Open High Low Close Volume___
13.500 13.580 13.320 13.440 1,605,949
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 13.15 13.88 14.78
Volatility: 34 43 41
Volume: 87,811,880 92,118,976 103,187,712
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 9.1% below its 200-period moving average and is in an downward trend. Volatility is high 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 bearish on BAC and have had this outlook for the last 27 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.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 85.6643. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 9 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 50.07. 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 10 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 77. This is not a topping or bottoming area. The last signal was a buy 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 buy 4 period(s) ago.
Bank of America Corporation is a bank holding and financial holding company. The Company is a financial institution, serving individual consumers, small- and middle-market businesses, institutional investors, corporations and governments with various banking, investing, asset management and other financial and risk management products and services. Its segments include Consumer Banking, which provides credit, banking and investment products and services to consumers and small businesses; Global Wealth & Investment Management, which offers solutions, such as investment management, brokerage, banking and retirement products; Global Banking, which provides lending-related products and services, integrated working capital management and treasury solutions; Global Markets, which offers sales and trading services; Legacy Assets & Servicing, which provides mortgage servicing activities, and All Other, which consists of asset and liability management activities, equity investments and others.