Bank of America Corporation : Resistance levels that will be difficult to break
Entry price | Target | Stop-loss | Potential |
---|
US$29.85 |
US$28.1 |
US$31.1 |
+5.86% |
---|
Up substantially over the past few weeks, shares in Bank of America should pause in their rise close to the major resistance around 30.89 USD.
Strengths● The group's activity appears highly profitable thanks to its outperforming net margins.
● Considering the small differences between the analysts' various estimates, the group's business visibility is good.
● The company's attractive earnings multiples are brought to light by a P/E ratio at 10.69 for the current year.
Weaknesses● The share is close to its long-term resistance in weekly data. Therefore, the potential should be limited. However, a further bullish movement when crossing this resistance will be a positive signal.
● The stock is currently in contact with a medium-term resistance that must be gotten rid of so as to resume the upward trend.
● According to Standard & Poor's' forecast, revenue growth prospects are expected to be very low for the next fiscal years.
● For the last four months, the sales outlook for the coming years has been revised downwards. No recovery of the group's activities is yet foreseen.
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