Do Investors Feel Positive About Bank of America Corp (BAC) Stock's Recent Performance?

Thursday, April 30, 2020 2:37 PM | InvestorsObserver Analysts

Bank of America Corp (BAC) stock has risen 9.60% over the past week and gets a Bullish rating from InvestorsObserver's Sentiment Indicator.

Sentiment Score - ,bullish
Bank of America Corp has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on BAC!

What is Stock Sentiment?

Sentiment is a very short-term indicator that is entirely technical. There is no information about the health of profitability of the underlying company in our sentiment score.

As a technical indicator, news about the stock, or company, such as an earnings release or other event, could move the stock counter to the recent trend.

Changes in price are generally the best indicator of sentiment for a particular stock. At its core, a stock's trend indicates whether current market sentiment is bullish or bearish. Investors must be bullish if a stock is trending upward, and are bearish if a stock is moving down.

InvestorsObserver's Sentiment Indicator factors in both price changes and variations in volume. An increase in volume usually means a current trend is stengthening, while a drop in volume tends to signal a reversal to the ongoing trend.

Our system also uses the options market in order to receive additional signals on current sentiments. We take into account the ratio of calls and puts for a stock since options allow an investor to bet on future changes in price.

What's Happening With BAC Stock Today?

Bank of America Corp (BAC) stock is trading at $23.97 as of 2:29 PM on Thursday, Apr 30, a loss of -$0.82, or -3.29% from the previous closing price of $24.78. The stock has traded between $23.85 and $24.38 so far today. Volume today is light. So far 35,333,965 shares have traded compared to average volume of 95,454,110 shares.

To see InvestorsObserver's Sentiment Score for Bank of America Corp click here.

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