Bank of America Corp. (BAC/NYSE): general review
23 May 2018, 12:22
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | BUY STOP |
| Entry Point | 31.30 |
| Take Profit | 31.75, 32.25, 32.50 |
| Stop Loss | 30.75 |
| Key Levels | 28.85, 29.50, 30.50, 31.25, 32.50 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 30.45 |
| Take Profit | 29.75, 29.25 |
| Stop Loss | 31.00 |
| Key Levels | 28.85, 29.50, 30.50, 31.25, 32.50 |
Current trend
Bank of America continues to increase investment in the development of digital opportunities. The company has released Erica, a virtual assistant based on artificial intelligence, for its 25 million mobile client audience.
BoA issued 2.25 billion dollars in bonds in support of renewable energy projects.
In the previous week, the stock of Bank of America dropped by 1.06%. S&P500 went up by 0.23% within the same period.
Support and resistance
The last sessions of #BAC trading is quite active. However, there is no single tendency. The emitter is in the side movement. The technical picture is uncertain. Indicators show mixed signals: the price has consolidated above MA(50) and MA(200), and MACD is in the negative zone. 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: 30.50, 29.50, 28.85.
Resistance levels: 31.25, 32.50.
Trading tips
If the price consolidates above the resistance level of 31.25, one should expect the company's shares to grow. Potential profits should be locked in by orders at 31.75, 32.25 and 32.50. Stop-loss will be placed at the level of 30.75.
If the price consolidates below 30.50, sales of #BAC should be considered. The moving potential is aimed at the area of 29.75–29.25. Stop-loss will be located at 31.00.
Implementation time: 3 days.
Bank of America continues to increase investment in the development of digital opportunities. The company has released Erica, a virtual assistant based on artificial intelligence, for its 25 million mobile client audience.
BoA issued 2.25 billion dollars in bonds in support of renewable energy projects.
In the previous week, the stock of Bank of America dropped by 1.06%. S&P500 went up by 0.23% within the same period.
Support and resistance
The last sessions of #BAC trading is quite active. However, there is no single tendency. The emitter is in the side movement. The technical picture is uncertain. Indicators show mixed signals: the price has consolidated above MA(50) and MA(200), and MACD is in the negative zone. 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: 30.50, 29.50, 28.85.
Resistance levels: 31.25, 32.50.
Trading tips
If the price consolidates above the resistance level of 31.25, one should expect the company's shares to grow. Potential profits should be locked in by orders at 31.75, 32.25 and 32.50. Stop-loss will be placed at the level of 30.75.
If the price consolidates below 30.50, sales of #BAC should be considered. The moving potential is aimed at the area of 29.75–29.25. Stop-loss will be located at 31.00.
Implementation time: 3 days.
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