Bank of America Corp. (BAC/NYSE): general review
02 April 2018, 11:37
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | SELL STOP |
| Entry Point | 29.25 |
| Take Profit | 28.50, 28.00, 27.50 |
| Stop Loss | 30.00 |
| Key Levels | 26.50, 28.00, 29.30, 30.50, 31.70, 32.50 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 30.55 |
| Take Profit | 31.70, 32.50 |
| Stop Loss | 29.75 |
| Key Levels | 26.50, 28.00, 29.30, 30.50, 31.70, 32.50 |
Current trend
Bank of America announced the expansion of the investment division Merrill Edge, planning to open 600 new centers and add 300 new brokers in the US within the next 2 years.
Bank of America will defend itself in court against the suit of the Federal Deposit Insurance Corporation, which accuses the bank of underpaying insurance premiums for USD 542 million.
In the previous week the stock of Bank of America dropped by 1.83%. S&P500 index went down by 0.06% during the same period.
Support and resistance
The last session of #BAC trading is quite active. However, there is no single tendency. The technical picture is mixed. The emmiter is trading within the flat market. The company's shares have the potential for further correction. Indicators show mixed signals: the price has consolidated below MA(50) and MA(200), and MACD histogram started to rise. Positions are to be opened from key levels.
Comparing company's multiplier with its competitors in the industry, we can say that #BAC shares are neutral.
Support levels: 29.30, 28.00, 26.50.
Resistance levels: 30.50, 31.70, 32.50.
Trading tips
If the price consolidates below the support level of 29.30, #BAC is expected to continue correction. Potential profits should be locked in by orders at 28.50, 28.00 and 27.50. Stop-loss will be placed at 30.00.
If the price consolidates above the resistance level of 30.50, one may consider buying the company's stock. The movement is aimed to the area of 31.70–32.50. Stop-loss will be placed at 29.75.
Implementation period: 3 days.
Bank of America announced the expansion of the investment division Merrill Edge, planning to open 600 new centers and add 300 new brokers in the US within the next 2 years.
Bank of America will defend itself in court against the suit of the Federal Deposit Insurance Corporation, which accuses the bank of underpaying insurance premiums for USD 542 million.
In the previous week the stock of Bank of America dropped by 1.83%. S&P500 index went down by 0.06% during the same period.
Support and resistance
The last session of #BAC trading is quite active. However, there is no single tendency. The technical picture is mixed. The emmiter is trading within the flat market. The company's shares have the potential for further correction. Indicators show mixed signals: the price has consolidated below MA(50) and MA(200), and MACD histogram started to rise. Positions are to be opened from key levels.
Comparing company's multiplier with its competitors in the industry, we can say that #BAC shares are neutral.
Support levels: 29.30, 28.00, 26.50.
Resistance levels: 30.50, 31.70, 32.50.
Trading tips
If the price consolidates below the support level of 29.30, #BAC is expected to continue correction. Potential profits should be locked in by orders at 28.50, 28.00 and 27.50. Stop-loss will be placed at 30.00.
If the price consolidates above the resistance level of 30.50, one may consider buying the company's stock. The movement is aimed to the area of 31.70–32.50. Stop-loss will be placed at 29.75.
Implementation period: 3 days.
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