Bank of America: Further Upside Is Likely (Technical Analysis)


  • Higher interest rates and inflation increase the volatility in the stock price of Bank of America Corporation.
  • The recent decline in the share price of BAC during 2022 is generating a strong buying interest at the lower channel line in the support area of $29 based on the similarity.
  • A breakout from the descending broadening wedge in BAC.PK and the appearance of an inside week indicate price compression and increase the likelihood of an upside breakout at $25.57.

Major Banks In U.S. Report Quarterly Earnings

Justin Sullivan

The Bank of America Corporation (BAC) provides a variety of financial services to individuals, businesses, and institutions. Through a series of mergers and acquisitions, BAC has become a major player in the banking industry with thousands of branches in multiple countries. BAC also issued Bank of America

Monthly Chart for BAC

Monthly Chart for BAC (

Monthly Chart for BAC

Monthly Chart for BAC (

BAC.PK weekly outlook

BAC.PK weekly outlook (

Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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