Sell signal, week 3 · US stocks
Bank of America drops 5.2% and loses its 200-day average ahead of earnings
Our view last week
After last week's 7.9% drop, Bank of America slips another 1.8% and weekly money flow falls below zero for the first time in 12 weeks. For Bank of America stock the signal is still a sell, now with a shorter stride: signal strength reads an isolated weekly drop, and the ADX is losing conviction. Price is working close to its 200-day moving average and recent lows, an area already fought over, which puts this bank stock among the US stocks to watch.
This week's summary
Bank of America falls 5.2% and the supports give way: the stock closes below its 200-day and 50-week moving averages, the 2 lines it was still leaning on a week ago, and sets a fresh 30-day low. Bank of America stock stays on a sell signal, with the decline starting to make lower lows. The daily RSI at 22 is oversold and earnings land on October 14: for one of the US stocks on a sell signal, the technical analysis argues against chasing the move.
Sell signal in observation
·3rd week from start
·US stocks
·T2
·📅 Earnings · Oct 14
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IQS Phase
65
in tension
Signal Strength
43
decline starting to make lower lows
Sizing
REDUCED
Ranking
#56 / 175
US stocks sell signals
Trade P&L %
+6.89%
from signal to date, no stop loss
Bank of America (BAC) weekly chart — EMA50 · MACD · VWAP
Weekly chart · EMA50 · MACD · VWAP · Source: TradingView
Rank position
ranks 56th among the 175 sell signals for US stocks in our ranking, with a signal strength of 43 out of 100.
Sector context
SectorFinancials
Benchmark ETFXLF
Sector regimeweak phase
Performanceweekly -2.46% · monthly -7.23%
BAC belongs to the financials sector (reference ETF XLF). The sector is classified weak phase according to our weekly reading.
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