Solid News

Bank of America Corp., Technical Analysis

8/31/2022 12:04 PM

The shares of Bank of America Corp., the largest financial conglomerate in the US, are moving within the corrective trend of around 34.00.

On the daily chart, the price has left the global downward channel with dynamic boundaries at 27.00–33.00 and is trying to stay within the corrective trend that began after overcoming the initial 23.6% Fibonacci correction at 34.70.

On the four-hour chart, it is seen that the upward impulse has high prospects for implementation. However, they are relevant only after the quotes reconsolidation above 34.70.

Technical indicators keep a buy signal: indicator Alligator’s EMA oscillation range is directed upwards, although it is narrowing, and the histogram of the AO oscillator forms downward bars in the buying zone.

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