Current trend

Shares of Bank of America Corp., one of the largest banks and analytical agencies in the United States, are trading within a correction trend at 42.00.

After the publication of the financial report on October 15, the board of directors approved dividends on outstanding depositary shares. Thus, payments on Series E, F, and G securities will amount to 0.36606 dollars, 1.417 dollars, and 1.417 dollars, respectively, and on Series 1, 2, 4, and 5 floating rate shares — 0.38077 dollars, 0.38284 dollars, 0.38923 dollars, and 0.37616 dollars, respectively. On September 27, investors received 0.26 dollars per share for common shares, equivalent to a yield of 2.59% for the quarter, and the next dividend is scheduled for December 27 in the amount of 0.26 dollars. The shareholder register will close on December 6.

According to statistics for the third quarter, the corporation’s revenue decreased from 25.4B dollars to 25.35B dollars, exceeding the forecast of 25.25B dollars, and earnings per share – from 0.83 dollars to 0.81 dollars relative to estimates of 0.76 dollars.

Support and resistance

On the daily chart, the trading instrument is moving below the resistance line of the ascending channel 43.50–40.00.

Technical indicators gave a buy signal: the EMA oscillation range on the Alligator indicator is expanding toward growth, fast EMAs are above the signal line, and the AO histogram is forming ascending bars in the buy zone.

Resistance levels: 43.10, 48.10.

Support levels: 41.00, 35.80.

Trading tips

Long positions may be opened after the price rises and consolidates above 43.10, with the target at 48.10 and stop loss 41.00. Implementation period: 7 days or more.

Short positions may be opened after the price falls and consolidates below 41.00, with the target at 35.80. Stop loss — 43.00.