Bank of America Corporation : An end to the technical rebound lies ahead
Entry price | Target | Stop-loss | Potential |
---|
$19.93 |
$15.5 |
$23.7 |
+22.23% |
---|
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 share is getting closer to its long-term support in weekly data, at USD 19.67, which offers good timing for buyers.
● The group's activity appears highly profitable thanks to its outperforming net margins.
● Historically, the company has been releasing figures that are above expectations.
● With a P/E ratio at 7.95 for the current year and 7.54 for next year, earnings multiples are highly attractive compared with competitors.
● The average target price set by analysts covering the stock is above current prices and offers a tremendous appreciation potential.
Weaknesses● 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.
● Analysts covering the stock have recently lowered their earnings forecast.
● The underlying tendency is negative on the weekly chart below the resistance at 26.47 USD
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