Bank of America nears highs as strength fades
Bank of America gains 2.7%, closing in on its all-time highs
Bank of America nears highs as strength fades
Our view last week
Bank of America closed the week up 1.6%, but the price is boxed into a very tight band under its recent highs, between the daily pivot point and its moving average. The Buy signal is in its fourth week, the trade climbs to +6.52% since entry, and signal strength keeps cooling, now at 29 out of 100. This technical analysis stays bullish overall, with quarterly earnings due this week.
This week's summary
Bank of America gains 2.7% this week, driven by a clean double bottom in the 53 area and a 5% rebound: the price is back within a whisker of its all-time highs, with just 1.4% of room left. The buy signal is in its 5th week and the trade climbs to 9.4% since entry, but signal strength keeps cooling, now at 27 out of 100. This technical analysis stays bullish overall, with quarterly earnings now behind it.
IQS Phase
63
ordinary
Signal Strength
27
low · fading
Sizing
MINIMUM
Ranking
#105 / 112
US stocks in progress
Trade P&L %
+9.37%
from signal to today
restricted Platinum content