Description
Bank of America (BAC) stock analysis:
1. **Current Price and Intraday Trading Range**: As of November 7, 2024, BAC stock price is $44.77, with an intraday trading range of $44.505 to $45.23.
2. **Pre-market and After-hours Movement**: No specific pre-market or after-hours data is provided in the sources.
3. **Trading Volume vs Average**: On November 7, 2024, BAC had a trading volume of 28,830,705 shares, but no average volume is provided for comparison.
4. **Recent News or Announcements**: Recent news includes a surge in bank stocks due to Trump's victory momentum and deregulation bets. There are no specific announcements from Bank of America in the last 24 hours.
5. **Major Analyst Updates or Price Target Changes**: The most recent analyst updates are from July 2024, with Morgan Stanley, BMO Capital Markets, and others maintaining buy ratings with price targets ranging from $40 to $49.
6. **Options Flow Activity**: No specific options flow activity is mentioned in the sources.
7. **Related Sector News**: There is no direct mention of semiconductor/AI sector news affecting Bank of America. However, the general banking sector has seen a surge due to political developments.
8. **Key Technical Indicators for Day Trading**:
- **Support and Resistance**: BAC has a support price of $44.73 and resistance of $46.09 based on 1-day standard deviation move.
- **Beta and Correlation**: BAC has a beta of 0.98 and a correlation of 0.23 to the SPY ETF, indicating it is less sensitive to market movements.
- **Market Sentiment**: The consensus rating for BAC is a buy, with 51 buy ratings, 22 hold ratings, and 8 sell ratings.
In summary, BAC stock has seen a recent surge due to political developments, with a current price of $44.77 and a trading range indicating potential for further movement. Analysts maintain a buy consensus with price targets up to $49. Key technical indicators suggest a support price of $44.73 and resistance of $46.09, with a relatively low sensitivity to market movements.
Bank of America Stock Surges Amid Market Optimism
November 22, 2024 - Bank of America (BAC) continues to show strong momentum as shares closed at $46.76 yesterday, marking a notable 1.51% increase. The banking giant's stock performance has caught investors' attention, particularly as it trades...
Published 11/22/24
Bank of America Stock Shows Mixed Signals Amid Market Uncertainty
November 21, 2024 - Bank of America (BAC) stock opened slightly lower this morning, following yesterday's closing price of $46.06, which represented a 0.75% decline from the previous session. The banking giant, currently valued at...
Published 11/21/24