Bank of America Corporation's shares show signs of a reversal to the downside. The technical chart pattern has deteriorated and suggests a continuation of the decline. Investors should open a short trade and target the $ 31.12.
Margins returned by the company are among the highest on the stock exchange list. Its core activity clears big profits.
Considering the small differences between the analysts' various estimates, the group's business visibility is good.
The group usually releases upbeat results with huge surprise rates.
The company's attractive earnings multiples are brought to light by a P/E ratio at 11.38 for the current year.
Within the weekly time frame the stock shows a bullish technical configuration above the support level at 30.77 USD
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.
With relatively low growth outlooks, the group is not among those with the highest revenue growth potential.
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.
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