Bank of America stock forecast and price prediction
Updated on:
Jan 18th, 2021
2
Bank of America forecast brief
- Bank of America stock sank -2.88% to close at $33.01 on the stock market last Friday.
- Bank of America is presenting its earnings report on Tuesday
- Price is drawing a scaled uptrend since September 2020 with higher tops and higher bottoms. Up to date, shares marked a 44.72% profit since the beginning of this rally
Bank of America stock price forecast
How much a stock will be priced tomorrow or next week is quite unpredictable. However, many stock price predictions are posted every day by banks, financial institutions and independent analysts.
Along with buy or sell recommendations, financial institutions publish their price estimates based on the stock price action and the company fundamental data. Most of these predictions follow the release of new fundamental data by the company, and usually. Again, these targets are not direct recommendations for individual traders and must not be followed blindly.
The average price target for Bank of America stock calculated from the table below is $35.40. That is a 7.24% than the last price ($33.01).
| Brokerage firm | Price target |
|---|---|
| Jan 4th, 2021 | |
| Barclays | $33.00 → $39.00 |
| Jan 5th, 2021 | |
| Wolfe Research | $27.00 → $36.00 |
| Jan 6th, 2021 | |
| Daiwa Capital Markets | $31.00 |
| Deutsche Bank Aktiengesellschaft | $30.00 → $35.00 |
| Jan 11th, 2021 | |
| Piper Sandler | $28.00 → $36.00 |
| Smith Barney Citigroup | Not available |
Analysts recommendations
In the last 30 days, 6 ratings were published for Bank of America. General sentiment is bullish, with 4 out of 6 publishing optimistic forecasts
| Brokerage firm | Rating |
|---|---|
| Jan 4th, 2021 | |
| Barclays | Buy |
| Jan 5th, 2021 | |
| Wolfe Research | |
| Jan 6th, 2021 | |
| Daiwa Capital Markets | Neutral |
| Deutsche Bank Aktiengesellschaft | |
| Jan 11th, 2021 | |
| Piper Sandler | Buy |
| Smith Barney Citigroup | Neutral → |
Earnings and financials
Bank of America ($BAC) is hosting the quarterly earnings call on Tuesday. Market analysts analysts predict of $0.55, that is a 7.84% more than previous quarter.
If you are a shareholder of Bank of America stock, you should review your stop-loss, as earnings release date has higher than usual volatility. Bank of America's website probably has additional information.
Bank of America ($BAC) had the quarterly shareholders event and released the report last October. Bank of America reported earnings of $0.51 per share on sales of $20.5 billion. The Wall St estimate was $0.49 per share on revenue of $20.8 billion.
Same quarter one year ago, reported EPS was $0.56, so current EPS means a loss of -8.93%. Looking at revenue, figures sliced a -5.06% compared to $199.6B same quarter last year.Bank of America stock: buy or sell?
Is $BAC stock a buy?
Bank of America received 6 ratings in the last 30 days: 4 bullish, 0 bearish and 1 neutral.Currently, Bank of America stock doesn't match any of these trading strategies, so our recommendation is not to buy now. This doesn't mean we expect a selloff for $BAC in the next few days, or that it may not rise higher. Simply, it doesn't match our recommended trading systems
Is it time to sell Bank of America stock?
Currently, Bank of America stock doesn't match any of our preferred sell setups, so if you hold Bank of America stock and your operation is in profit probably is not time to sell now
Bank of America stock technical predictions
Bank of America shares started an uptrend in September 2020, and grew an amazing 44.72%. Rising tops and bottoms can be seen easily on a chart and how price provided very few buy points on the breakouts. Latest pullback was last October, when price bounced at $22.98. Currently, it trades in a consolidation between its last top ($34.37) and its last bottom ($22.98)
SMAs overview
Supports and resistances
The current resistances are:
The current support levels are:
Bollinger bands
Since the price surpassed the upper band last Thursday, the price has been corrected downwards by 3.96%
Relative strength index
After breaking out the line of 70 yesterday, fell back below with a reading of 66.52. This is a signal of weakness for the Bank of America shares and it should get us on alert of weakness in the price action
Bank of America stock price history
Bank of America IPO was on Feb 21st, 1973 at $1.44 per share1. Since then, BAC stock has risen by 2,192.36%, with an average of 46.65% per year. An investment of $1,000USD on Feb 1973 would be valued $22,923.61 today.
1: Adjusted price after possible price splits or reverse-splits
Disclaimer:
The thoughts contained in this article are personal and should not be followed as recommendations for you to buy or sell shares. The author of this report does not have an understanding of the particular scenarios of the reader, his or her own finances or his or her own best interests at any given time. All users should speak with their financial advisor before buying or selling any securities Comments are posted for general educational motives onlyBank of America summary
| Friday, January 15th, 2021 | |
|---|---|
| Open | $33.29 |
| Close | $33.01 |
| Day range | $32.7 - $33.63 |
| Previous close | $33.99 |
| Session gain | -2.88% |
| Average true range | $1.09 |
| 50d mov avg | $28.96 |
| 100d mov avg | $26.75 |
| 200d mov avg | $25.22 |
| Earnings date | January 19th, 2021 |