What's Next For Bank Of America As Stock Breaks Below Support?

Benzinga2021-07-15

$Bank of America Corp(BAC-N)$. (NYSE:BAC) shares are trading lower Wednesday after the company reported worse-than-expected second-quarter sales results.

For the previous quarter, the company reported sales of $21.50 billion, missing the estimate of $21.83 billion. Earnings of $1.03 per share beat the 77-cent estimate.

Bank Of America's stock was down 2.9% at $38.68 at last check.

Key Bank Of America Levels To Watch

After falling and breaking below support, it's possible the stock could see a strong correction in the coming weeks.
The Relative Strength Index (RSI) started falling and now nears the oversold area. The RSI sits at 37 now and the oversold area starts at 30 and goes to 0.

What’s Next For Bank Of America?

Bullish traders would like to see the stock bounce and start heading back up. Bulls want to see the stock move back into the upwards trending channel and resume trading within the channel. Bulls would also like to see the stock cross above the 50-day moving average.

Bearish traders would like to see the stock continue to stay below the channel. If the stock can stay below the channel, it may be ready to see a further bearish push. Bears would like to see the stock cross below both moving averages for sentiment in the stock to turn bearish.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

猫猫723
2021-07-15
猫猫723
會不會先跌後升
stonker
2021-07-15
stonker
Hi
Jegan12
2021-07-15
Jegan12
Not good view
JeffreyNeo
2021-07-15
JeffreyNeo
1
Zero_onezero
2021-07-15
Zero_onezero
Like pls
- JeffreyNeo:
  1
许哲东
2021-07-15
许哲东
Continue to dip will be the next and I will start to collect.. like and comment please
- whywhywhywhy:
  ok
- 许哲东:
  thank you

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to dip will be the next and I will start to collect.. like and comment please","listText":"Continue to dip will be the next and I will start to collect.. like and comment please","text":"Continue to dip will be the next and I will start to collect.. like and comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/144559323","repostId":2151151092,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5223090,"gmtCreate":1626307777201,"gmtModify":1663230984839,"authorId":3580704334567935,"author":{"id":3580704334567935,"authorId":3580704334567935,"name":"whywhywhywhy","avatar":"https://static.tigerbbs.com/28195847b88a5c5115f0ab53d2eb35e7","vip":1,"currentWearingBadge":{"badgeId":"7a9f168ff73447fe856ed6c938b61789-1","templateUuid":"7a9f168ff73447fe856ed6c938b61789","name":"Knowledgeable Investor","description":"Traded more 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