Revive

Bank AI

Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>BAC stock price chart shows bearishness.</a> </li> 
 <li> <span>2</span> <a>BAC share price slipped below the support zone of $27, indicating selling pressure.</a> </li> 
</ul> 
<p>Bank of America (BAC stock) trades in a downtrend inside the falling parallel channel, indicating bearishness. Moreover, the price action shows the bear dominance and favors the bears. Furthermore, the breakdown candle, which split the neckline of $27, showed a breakdown in yesterday’s session. However, at the channel lower trendline, a hammer candlestick was formed, which shows the bulls are interested in pullback and are looking to hold the region.</p> 
<p>BAC share price is trading below the significant moving averages and is hovering in the oversold region. Furthermore, the chart shows that correction and follow-on selling persisted in the past sessions, which led to a breakdown.</p> 
<p>As per the options chain, at the strike price of $26, a massive open interest of 13718 hundred shares was placed on the put side, whereas at the strike price of $28, the open interest of 11097 hundred shares on the call side, signifies that long positions were trapped during the breakdown in the last sessions. $28 is the immediate resistance zone which is a challenge for the buyers to escape.</p> 
<p>At press time, BAC stock price is trading at $25.94 with an intraday gain of 0.12%, showing neutrality on the charts. Moreover, the trading volume increased by 0.34% to 55.679 Million. The market cap is $206.129 Million. Furthermore, analysts have maintained a buy rating with a yearly target price of $34.08.</p> 
<p>Bank of America Corp. is a bank and financial holding company that provides banking and nonbank financial services. It operates through the following segments: Consumer Banking, Global Wealth and Investment Management (GWIM), Global Banking, Global Markets, and All Other. The Consumer Banking segment offers consumers and small businesses credit, banking, and investment products and services. The GWIM segment offers solutions to meet clients’ needs through a full set of investment management, brokerage, banking, and retirement products. The Global Banking segment deals with lending-related products and services, integrated working capital management and treasury solutions to clients, and underwriting and advisory services.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-bac-stock-at-make-or-break-level-of-25-strong"><strong>BAC Stock at Make or Break Level of $25?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img decoding="async" loading="lazy" width="1024" height="481" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-107-1024x481.png" alt="" class="wp-image-173720" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-107-1024x481.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-107-300x141.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-107-768x361.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-107-1536x722.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-107-750x353.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-107-1140x536.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-107.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: BAC Stock Price Chart At TradingView
  </figcaption>
 </figure>
</div> 
<p>On the daily charts, BAC stock price trades below the cluster of $30 and shows bearishness for the past sessions. Furthermore, the negative trend favors the bears and suggests a downside toward $20 can be anticipated soon. Moreover, the trend is favoring the bears, and due to the weak market sentiment, bulls need momentum for a reversal and faced slippages in the past sessions.</p> 
<p>The RSI curve is below neutrality and showed a bearish divergence, suggesting that a downside toward $20 is possible in the following sessions.The MACD indicator shows a bullish crossover and formed red bars on the histogram, suggesting a negative outlook for the upcoming sessions.</p> 
<h4 class="wp-block-heading"><strong>Summary&nbsp;</strong></h4> 
<p><a href="https://www.thecoinrepublic.com/2023/10/04/berkshire-hathaway-stock-nyse-brk-a-outlook-for-october-month/" target="_blank" rel="noreferrer noopener">BAC stock price</a> was in a downtrend and lost the gains, slipping below the significant moving averages, indicating the bears’ dominance. Furthermore, the trajectory swing low of $265 is the strong support zone that bulls tried to hold and attempted a rebound.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p>Support Levels: $25 and $20</p> 
<p>Resistance Levels: $28 and $30</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.</p>

BAC Stock (NYSE: BAC) Shows Breakdown, Will BAC Revive Gains?

Table of Contents

Thecoinrepublic.com

Other articles published on Oct 5, 2023

Ripple’s Singapore payments license has been formally approved.

Santiment Analysts Report Bitcoin Signal Seen in Previous Cryptocurrency Rallies

NEOPIN Membership Season 1 Reward Claim Now Live

Ethereum Succumbs to Selling Pressure as Bears Maintain Control

Digital Ledger Daily: Top crypto stories of the day

Security Vulnerability in AVAX-Based Stars Arena: Statement from Emin Gür Sirer!

Join our free newsletter for daily crypto updates!