Solid News

Bank of America Corp., Technical Analysis

8/18/2022 12:06 PM

The shares of Bank of America Corp., the largest financial conglomerate in the US, are moving within the corrective trend of around 36.00.

On the daily chart of the asset, the price has left the global downward channel with dynamic boundaries at 27.00–33.00 and is significantly above the resistance line of 32.50, which it overcame at the end of July.

On the four-hour chart, it is seen that the upward momentum has high prospects for implementation, which is confirmed by the quotes consolidation above the initial correction of 23.6% Fibonacci around 34.50 and approaching the basic correction of 38.2% around 37.40, which is the main obstacle for the current movement.

Technical indicators keep a buy signal: the EMA fluctuation range on the Alligator indicator remains quite wide, fast EMAs have begun to move away from the signal line, and the AO oscillator histogram is forming up bars in the buy zone far from the transition level.

Find Us
First Floor, First St Vincent Bank LTD Building James Street Kingstown St Vincent and the Grenadines
Call Us
+1 415 367 3742

Solid ECN Securities is an international brand formed and authorized in Saint Vincent and the Grenadines with the registration number 1390 LLC 2021 committed to offering the best possible trading experience. Disclosure: Please note that foreign exchange and other leveraged trading involve a significant risk of loss. It is not fit for all investors and you should make sure you realize the risks involved, seeking independent advice if necessary.
Solid ECN Securities and it affiliates don't accept applications from Indonesia, Egypt, Australia, Bonaire, Curaçao, East Timor, Liberia, Saipan, Russia, Sint Eustatius, Tahiti, Turkey, Guinea-Bissau, South Sudan and other restricted countries.
Copyright All Right Reserved 2023