Bank of America Technical Analysis (NYSE:BAC)
Technical analysis relies on the belief that future price movements of a stock can be forecasted through the study of historical market data and technical charts. The Bank of America stock price data and volume are plotted in BAC stock charts and these trading charts form the basis of technical analysis.
View technical indicators like moving averages - SMA and EMA, and bollinger bands for Bank of America. The technical analysis form of Bank of America stock analysis tries to understand the market by studying the stock market trend itself as opposed to other aspects like the company's fundamentals.
Bank of America Moving Average
Moving averages help predict the price direction of BAC stock based on certain triggers, but with a lag, and form building blocks for other technical indicators like the MACD and bollinger bands. A key factor that impacts moving averages is the lag factor. The 20 day moving average of $32.12 is below the price of $32.17.
Bank of America Bollinger Bands
Bollinger Bands were developed by the famous technical trader John Bollinger and are a measure of the volatility of a stock like the BAC stock. Bank of America bollinger bands show that the stock price is $32.17, upper band is 32.76, lower band is 31.48, and the average is 32.12.
Bank of America Moving Average Convergence Divergence or MACD
Two important concepts with respect to moving average convergence divergence or MACD are: crossovers and divergence. When the MACD rises above the signal line, it typically indicates a bullish trend and most likely the stock prices will go up. The Bank of America MACD line is below the signal line.
Bank of America Relative Strength Index
The relative strength index compares the magnitude of recent gains to recent losses and is a momentum indicator. It attempts to assess overbought and oversold conditions of a stock. 46.03 is the RSI value of BAC stock.