Bank Of America – Technical Analysis Review

Bank of America is one of the most traded company in the NYSE with an average daily volume of 151,391,000 over the last month. Its global world ranking have been reviewed down from 21 to 46 by Fortune Global 500. Bank of America revenue for 2011 was 115,074 millions which was 14% less than a previous year.

In term of market capitalization Bank of America is in the top 25 in the NYSE. While the company shares are one of the most traded, its volatility is relatively low compare to other popular stocks.  Before the financial crisis it share price was as high as $55 per share. Since then, the average share price has been around $14 a share.

While the bank have directly suffer the consequences of the housing and financial crisis, the bank management remain solid and anyone could think that their business model while a bit obsolete, have room to expand into a new financial era. The company chart price doesn’t show any signs of been over bough or oversold. It is rather stable and the share prices has double since the last year.

The company have been trading in tight range, with support in the range of $8.93 and resistance around $9.90. There isn’t any clear pattern that could indicate a possible direction or what to expect in the coming weeks. Nevertheless, the company have more recently been used as a save heaven when the market is down, which is a good indication for long term investor.

Bank of America is a reasonable low budget CFD to trade. With around $141 of investment it is possible to purchase 100 CFD of Bank of America, depending in your CFD provider. Bank of America CFD move around $1 per point. So if the share price move 10 cent, you will gain or lose $10. In the other hand, its overnight funding isn’t that expensive and in most cases trading Bank of America is free of brokerage, as a small commission is already in the spread.

 

 

 

 

 

 

 

 

 

In the current environment, will you buy or sell Bank of America?

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