Shares of Bank of America Corporation (BAC) Sees Large Outflow of Money

Bank of America Corporation (BAC) : Money flow in the Bank of America Corporation (BAC) stock was negative (5.64 million) on Thursday, which shows that the investors used the strength in the stock price to reduce their holdings. The total traded value on upticks was $42.61 million, compared to $48.25 million on downticks. The total uptick to downtick ratio was 0.88, indicating the underlying weakness in the stock. Even in block trades, money flow was negative ($4.95 million), indicating selling on the strength. The transaction value during uptick in block trades was $7.49 million. Downtick transaction value in block trades amounted to $12.44 million, indicating persistent selling. The uptick to downtick ratio was 0.6. Bank of America Corporation (BAC) traded $0.1 higher at $12.96 gaining 0.74% over the previous days close.


Bank of America Corporation (BAC) stock is expected to deviate a maximum of $1.79 from the average target price of $17.77 for the short term period. 17 Street Experts have initiated coverage on the stock with the most promising target being $20 and the most muted being $15. The stock has recorded a 20-day Moving Average of 2.62% and the 50-Day Moving Average is 7.15%.

Bank of America Corporation (NYSE:BAC): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $12.87 and $12.84 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $13.11. The buying momentum continued till the end and the stock did not give up its gains. It closed at $13.01, notching a gain of 1.17% for the day. The total traded volume was 101,100,345 . The stock had closed at $12.86 on the previous day.

Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers, small- and middle-market businesses, institutional investors, corporations and Governments with a range of banking, investing, asset management and other financial and risk management products and services. Through its banking and various nonbank subsidiaries, it provides a range of banking and nonbank financial services and products. It operates in five segments: Consumer & Business Banking, which offers a range of credit, banking and investment products and services to consumers and businesses; Consumer Real Estate Services, which provides a line of consumer real estate products and services; Global Wealth & Investment Management, which provides wealth management solutions; Global Banking, which provides a range of lending-related products and services, and Global Markets, which offers sales and trading services.

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