Solid News

Bank of America Corp., Technical Analysis

11/25/2022 10:53 AM

Shares of Bank of America Corp., the largest financial conglomerate in the US, are moving within the corrective trend around 37.00.

On the daily chart, the price managed to consolidate above the resistance line of the descending corridor with the boundaries of 28.00–36.00 and is now trying to stay above the 38.2% Fibonacci retracement level of 37.10.

On a four-hour timeframe, it can be seen that overcoming this level will become a catalyst for the movement of the quotes of the trading instrument towards two goals: the level of an intermediate correction of 50.0% at 39.60 and the level of a full correction of 61.8% at 42.00.

Technical indicators maintain a global buy signal, working out the local correction: fast EMAs on the Alligator indicator are above the signal line, and the AO oscillator histogram is forming new bars trading in the buy zone

Find Us
Registered Address : Bonovo Road – Fomboni Island of Mohéli – Comoros Union
Sofia, PO Box 1407,14 Flip Kutev Str. Floor 2, Industrial area Hladilnika, Bulgaria
Call Us
+35 924 928 392

Risk Warnings
Solid ECN Securities LLC offers trading on Foreign Exchange (‘Forex’ or ‘FX’) and Contracts for Difference (‘CFDs’), which are complex financial products that are traded on margin. They carry a high level of risk since leverage can work both to your advantage and disadvantage. As a result, these products may not be suitable for all investors, as loss of all invested capital may occur. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved and consider your investment objectives and level of experience. Seek independent advice, if necessary.
Solid ECN Securities LLC does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of a CFD. Solid ECN Securities LLC is not a financial advisor and all services are provided on an execution-only basis. This communication is not an offer or solicitation to enter into a transaction and shall not be construed as such.
This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.
By using you agree to use our cookies to enhance your experience.
Solid ECN Securities LLC is authorized and regulated by the Comoros Union with reference number HY00623411.
Disclaimer 1: The information provided on this site is not intended for residents of any country or jurisdiction where its distribution or use would violate local laws or regulations.
Disclaimer 2: Solid ECN Securities LLC and it affiliates does not provide services to residents of the USA, Japan, Canada, Australia, the Democratic Republic of Korea, European Union, United Kingdom, Iran, Syria, Sudan and Cuba.
Copyright All Right Reserved 2024