Bank of America: 6th week of the buy signal
Bank of America climbs 1.3%, back within a whisker of its record highs
Bank of America: 6th week of the buy signal
Our view last week
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.
This week's summary
Bank of America is back within a whisker of its all-time highs, just 0.36% away, after another up week (+1.3%) built on the double bottom in the 55 area. The weekly RSI has pushed above 70, and that level has already been tested multiple times — a solid wall, not an easy break on the first try. Bank of America stock stays bullish overall, with the stop now moved to breakeven and the trade up 10.76%.
IQS Phase
77
in tension
Signal Strength
27
low · fading
Sizing
MINIMUM
Ranking
#115 / 124
US stocks in progress
Trade P&L %
+10.76%
from signal to today
Rank position
ranks 115th among the 124 Longs already running for US stocks in our ranking, with a signal strength of 27 out of 100.
Sector context
SectorFinancials
Benchmark ETFXLF
Sector regimein positive regime
Performanceweekly +0.09% · monthly +4.82%
BAC belongs to the financials sector (reference ETF XLF). The sector is classified in positive regime according to our weekly reading.
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