Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Bank Of America Corp shares valued at $2,023,286,475 were sold by BANK OF AMERICA CORP /DE/ on Nov 22 ’24. At $99.92 per share, BANK OF AMERICA CORP /DE/ sold 20,249,064 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
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Also, BANK OF AMERICA CORP /DE/ purchased 800 shares, netting a total of over 7,565 in proceeds. Following the buying of shares at $9.46 each, the insider now holds 800 shares.
Before that, BANK OF AMERICA CORP /DE/ had sold 800 shares from its account. In a trade valued at $7,484, the 10% Owner traded Bank Of America Corp shares for $9.36 each. Upon closing the transaction, the insider’s holdings decreased to 800 shares, worth approximately $0.0.
As published in a research note from Citigroup on November 08, 2024, Bank Of America Corp [BAC] has been rated up from a Neutral to a Buy and the price target has been revised to $54 from $46. Analysts at Deutsche Bank upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in early September. As of July 09, 2024, Piper Sandler has increased its “an Underweight” rating to a “Neutral” for BAC. Earlier on July 02, 2024, Seaport Research Partners upgraded its rating. Their new recommendation was “a Buy” for BAC stock which previously was a “a Neutral”.
Analyzing BAC Stock Performance
During the last five days, there has been a drop of approximately -1.61%. Over the course of the year, Bank Of America Corp shares have jumped approximately 39.59%. Shares of the company reached a 52-week high of $48.08 on 11/29/24 and a 52-week low of $31.27 on 01/17/24. A 50-day SMA is recorded $43.43, while a 200-day SMA reached $39.80. Nevertheless, trading volume fell to 31.38 million shares from 1.03 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 46.59, which, if violated, would cause prices to drop to 46.17. In the upper region, resistance lies at 47.33. The next price resistance is at 47.65. RSI (Relative Strength Index) is 62.41 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.21, which suggests the price will decrease in the coming days. Percent R is at 43.90%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
