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Bank of America shares forecast for July and August 2021

Bank of America, stock, Bank of America shares forecast for July and August 2021

Bank of America quotes continue to move within the correction and the formation of the ”Triangle" model. Moving averages indicate the presence of a short-term bearish trend for BAC. Prices broke down the area between the signal lines, which indicates pressure from sellers of securities. At the time of publication of the forecast, the price of Bank of America shares is 39.87. Within the framework of the forecast of the BAC stock price, we should expect an attempt to develop a small correction and a test of the support level near the area of 38.55. Then, a rebound and a continuation of the rise in the value of securities. The potential target of such a movement is the area above the 50.00 level.

An additional signal in favor of a rise in BAC quotes will be a test of the support line on the relative strength indicator (RSI), as we can see, when the indicator values fall below 30, securities rise. The second signal will be a rebound from the lower border of the ascending channel, which is a long-term one. The cancellation of the option of growth in the quotations of the value of Bank of America shares will be a fall and a breakdown of the level of 36.05. This will indicate a breakdown of the support area, as well as the lower border of the bullish channel and the continuation of the fall to the area at the level of 30.00. We should expect an acceleration of the stock's rise with a breakdown of the resistance area and a close above the level of 43.05, which will indicate a breakdown of the upper limit of the ”Triangle " model.

Bank of America shares forecast for July and August 2021

Thus, the Bank of America shares forecast for July and August 2021 suggests the development of a correction and a test of the support area near the level of 38.55. From where we should expect a rebound and an attempt to continue the rise of shares in the area above the level of 50.00. The trend line test on the relative strength indicator will be in favor of the growth of securities. The cancellation of the BAC rise option will be a drop and a breakdown of the 36.05 level. This will indicate a breakdown of support and a continuation of the fall in value to the area below the 30.00 level.

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