BANK OF AMERICA - 1H - Technical analysis published on 03/02/2021 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Court terme:
Neutral
De fond:
Bullish
Technical indicators
44%
6%
50%
My opinion
Bullish above 34.67 USD
My targets
37.03 USD (+4.05%)
38.98 USD (+9.52%)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on BANK OF AMERICA. As long as you are above the support located at 34.67 USD, traders with an aggressive trading strategy could consider a purchase. A cross of the resistance located at 37.03 USD would be a signal that the basic trade will reverse and the short-term trend could then quickly become bullish. Buyers would then use the next resistance located at 38.98 USD as an objective. Crossing it would then enable buyers to target 41.57 USD. If the support 34.67 USD were to be broken, this would simply be a sign of a possible continuation of short-term consolidation and trading against the trend would then perhaps be more risky.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
4.5
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The BANK OF AMERICA rating is 35.59 USD. On the day, this instrument lost -0.56% with the lowest point at 35.50 USD and the highest point at 35.94 USD. The deviation from the price is +0.25% for the low point and -0.97% for the high point.35.50
35.94
35.59
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of BANK OF AMERICA in 1H shows an overall bullish trend. 75.00% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. The Central Indicators market scanner is currently detecting several bearish signals that could impact this trend:
Bearish trend reversal : adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with adaptative moving average 100
Type : Bearish
Timeframe : 1 hour
Technical indicators are slightly bullish. There is therefore considerable uncertainty about the continuation of the increase.
Other results related to technical indicators were also found by the Central Indicators scanner:
RSI indicator is back under 50
Type : Bearish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Near support of channel
Type : Bullish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 32.84 | 33.99 | 34.67 | 35.59 | 35.64 | 37.03 | 41.57 |
| Change (%) | -7.73% | -4.50% | -2.58% | - | +0.14% | +4.05% | +16.80% |
| Change | -2.75 | -1.60 | -0.92 | - | +0.05 | +1.44 | +5.98 |
| Level | Major | Intermediate | Major | - | Major | Major | Minor |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 34.53 | 34.88 | 35.34 | 35.69 | 36.15 | 36.50 | 36.96 |
| Camarilla | 35.57 | 35.64 | 35.72 | 35.79 | 35.86 | 35.94 | 36.01 |
| Woodie | 34.58 | 34.91 | 35.39 | 35.72 | 36.20 | 36.53 | 37.01 |
| Fibonacci | 34.88 | 35.19 | 35.38 | 35.69 | 36.00 | 36.19 | 36.50 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 31.12 | 32.76 | 33.74 | 35.38 | 36.36 | 38.00 | 38.98 |
| Camarilla | 33.99 | 34.23 | 34.47 | 34.71 | 34.95 | 35.19 | 35.43 |
| Woodie | 30.78 | 32.60 | 33.40 | 35.22 | 36.02 | 37.84 | 38.64 |
| Fibonacci | 32.76 | 33.76 | 34.38 | 35.38 | 36.38 | 37.00 | 38.00 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 23.05 | 26.31 | 30.51 | 33.77 | 37.97 | 41.23 | 45.43 |
| Camarilla | 32.66 | 33.34 | 34.03 | 34.71 | 35.39 | 36.08 | 36.76 |
| Woodie | 23.52 | 26.55 | 30.98 | 34.01 | 38.44 | 41.47 | 45.90 |
| Fibonacci | 26.31 | 29.16 | 30.92 | 33.77 | 36.62 | 38.38 | 41.23 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 48.72 | |
| MACD (12,26,9): | 0.0300 | |
| Directional Movement: | -3.39 | |
| AROON (14): | 42.86 | |
| DEMA (21): | 35.66 | |
| Parabolic SAR (0,02-0,02-0,2): | 35.13 | |
| Elder Ray (13): | -0.10 | |
| Super Trend (3,10): | 36.09 | |
| Zig ZAG (10): | 35.53 | |
| VORTEX (21): | 0.8800 | |
| Stochastique (14,3,5): | 66.91 | |
| TEMA (21): | 35.58 | |
| Williams %R (14): | -36.13 | |
| Chande Momentum Oscillator (20): | 0.56 | |
| Repulse (5,40,3): | -0.6200 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0000 | |
| Courbe Coppock: | 2.32 |
| MA7: | 35.58 | |
| MA20: | 33.96 | |
| MA50: | 32.23 | |
| MA100: | 29.26 | |
| MAexp7: | 35.64 | |
| MAexp20: | 35.62 | |
| MAexp50: | 35.36 | |
| MAexp100: | 34.67 | |
| Price / MA7: | +0.03% | |
| Price / MA20: | +4.80% | |
| Price / MA50: | +10.43% | |
| Price / MA100: | +21.63% | |
| Price / MAexp7: | -0.14% | |
| Price / MAexp20: | -0.08% | |
| Price / MAexp50: | +0.65% | |
| Price / MAexp100: | +2.65% |
Quotes :
2021-03-02 17:14:32
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15 min delayed data
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NYSE Stocks
News
The last news published on BANK OF AMERICA at the time of the generation of this analysis was as follows:
- Investor Network: Bank of America Corporation to Host Earnings Call
- Carrie Ann Inaba To Join Tree Lighting Festivities At Bank Of America Winter Village At Bryant Park
- Unisys to Present at Bank of America Merrill Lynch 2016 Leveraged Finance Conference
- Rowan to Present at the Bank of America Merrill Lynch Conference
- Level 3 to Present at the Bank of America-Merrill Lynch 2016 Leveraged Finance Conference
This member declared not having a position on this financial instrument or a related financial instrument.
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