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Bank Of America Corp. [BAC] Records 200-Day SMA of $31.76

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Bank Of America Corp. shares valued at $57,023 were purchased by BANK OF AMERICA CORP /DE/ on Dec 27 ’23. At $10.56 per share, BANK OF AMERICA CORP /DE/ acquired 5,398 shares. The insider’s holdings grew to 5,398 shares worth approximately $0.2 million following the completion of this transaction.

Also, BANK OF AMERICA CORP /DE/ sold 900 shares, netting a total of over 8,748 in proceeds. Following the sale of shares at $9.72 each, the insider now holds 0 shares.

Before that, BANK OF AMERICA CORP /DE/ had added 900 shares to its account. In a trade valued at $8,622, the 10% Owner bought Bank Of America Corp. shares for $9.58 each. Upon closing the transaction, the insider’s holdings increased to 900 shares, worth approximately $33255.0.

As published in a research note from Wolfe Research on April 19, 2024, Bank Of America Corp. [BAC] has been rated up from a Peer perform to an Outperform and the price target has been revised to $42. Analysts at UBS downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in early April. As of March 28, 2024, HSBC Securities has decreased its “Buy” rating to a “Hold” for BAC. Earlier on January 30, 2024, Morgan Stanley upgraded its rating. Their new recommendation was “an Overweight” for BAC stock which previously was a “an Equal-weight”.

Analyzing BAC Stock Performance

During the last five days, there has been a drop of approximately -3.58%. Over the course of the year, Bank Of America Corp. shares have jumped approximately 9.74%. Shares of the company reached a 52-week high of $38.49 on 04/24/24 and a 52-week low of $31.27 on 01/17/24. A 50-day SMA is recorded $36.24, while a 200-day SMA reached $31.76. Nevertheless, trading volume fell to 32.23 million shares from 30.28 million shares the previous day.

Support And Resistance Levels for Bank Of America Corp. (BAC)

According to the 24-hour chart, there is a support level at 36.65, which, if violated, would cause prices to drop to 36.34. In the upper region, resistance lies at 37.38. The next price resistance is at 37.81. RSI (Relative Strength Index) is 50.84 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.31, which suggests the price will decrease in the coming days. Percent R is at 35.56%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

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