Technical Analysis Bank of America 12th October 2021

Oct 12, 2021 at 4:52 AM EDT

Today’s instrument is the Bank of America Corp. stock traded in NYSE exchange under the ticker BAC.

Hello Traders and welcome to AAATrade’s Intraday Technical Analysis session.

Today’s instrument is the Bank of America Corp. stock traded in NYSE exchange under the ticker BAC.

If we look at the BAC 4H chart, we can see it’s been trading in an uptrend for the past months, climbing slowly but even after a brief selloff, mid-September, which drove its price down near its $37.5 support level, it managed to bounce strongly and with momentum on its side it reached a high of $44.9. Its last traded price was at $43.7 range, with above overhead resistance of $44.9 high and closest support base at $43 range.

Bank of America Corp. has scheduled third-quarter earnings announcement on Wednesday 14/10/2021. If the earning expectations are surpassed, we could expect the price to move upwards, towards the $48 price level.

Today we could expect a pattern continuation and price action move towards the $44.9 resistance level.

If however, it fails to hold above the current price range of $43.7 then a case can be made for moving towards the $43 support level.

bac

Thank you for reading AAA Trades Intraday Technical Analysis.

From all of us here, we wish you successful and responsible trading.

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