Bank of America (BAC) Stock Analysis: Market Sentiment and Technical Indicators
Download and listen anywhere
Download your favorite episodes and enjoy them, wherever you are! Sign up or log in now to access offline listening.
Bank of America (BAC) Stock Analysis: Market Sentiment and Technical Indicators
This is an automatically generated transcript. Please note that complete accuracy is not guaranteed.
Description
**Bank of America (BAC) Analysis** 1. **Current Price and Intraday Trading Range**: BAC is trading at $45.86 with a day range of $44.51–45.23[4][5]. 2. **Pre-market and After-hours Movement**: No significant...
show more1. **Current Price and Intraday Trading Range**: BAC is trading at $45.86 with a day range of $44.51–45.23[4][5].
2. **Pre-market and After-hours Movement**: No significant pre-market or after-hours movements were reported in the last 24 hours.
3. **Trading Volume vs Average**: The trading volume is 45.5 million, slightly above the average volume of 36.4 million[5].
4. **Recent News or Announcements**: There were no major news or announcements in the last 24 hours that significantly impacted BAC stock.
5. **Major Analyst Updates or Price Target Changes**: Recent analyst updates include maintained buy ratings from Morgan Stanley, BMO Capital Markets, and Barclays Capital, with price targets ranging from $40 to $49[4].
6. **Options Flow Activity**: There was no significant options flow activity reported in the last 24 hours.
7. **Related Sector News**: There is no direct impact from semiconductor/AI sector news on Bank of America, as it operates primarily in the financial services sector.
8. **Key Technical Indicators for Day Trading**:
- **Support and Resistance**: The support price is $44.73, and resistance is $46.09, based on a one standard deviation move[3].
- **Beta**: BAC has a beta of 0.98, indicating it is less sensitive to market movements[3].
- **Correlation**: BAC has a correlation of 0.23 to the SPY ETF, suggesting it does not closely follow the broader market[3].
- **Market Sentiment**: The consensus rating is a buy, with 51 buy ratings, 22 hold ratings, and 8 sell ratings[4].
**Market Sentiment**: Overall, the market sentiment for BAC is positive, with a strong buy consensus and recent price performance outpacing the broader market. However, the stock is trading at a premium, and potential risks include economic downturns and interest rate changes[5].
Information
Author | QP - Daily |
Organization | William Corbin |
Website | - |
Tags |
Copyright 2024 - Spreaker Inc. an iHeartMedia Company