Bank of America Corporation : An end to the technical rebound lies ahead
Entry price | Target | Stop-loss | Potential |
---|
$29.34 |
$26.4 |
$30.21 |
+10.02% |
---|
In close proximity to the technical resistance zone that has been tested over several trading sessions, stocks in Bank of America Corporation could experience a pullback over the coming trading sessions towards technical support levels based on daily closing prices.
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 10.98 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.
● As estimated by analysts, this group is among those businesses with the lowest growth prospects.
● 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.
● For the last twelve months, sales expectations have been significantly downgraded, which means that less important sales volumes are expected for the current fiscal year over the previous period.
● Analysts covering the stock have recently lowered their earnings forecast.
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