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Morning Alert: Bank of America hits 52-week high ninth time in one month 17 October 2017 11:14 EDT

NEWS BITES - NORTH AMERICA

Bank of America Corporation (NYSE:BAC) hit a 52-week high of $US26.43 today for the ninth time in the past one month and last traded at $US26.36. This brought its three-day rise to 91.0c or 3.6%. Trading volume was 71% of average so far today.

SECTION 1: The past week

Current indications of bullish signals that support the trend in the unusual trading

1.1 At a glance

Weekly: Bank of America rises 1.5% with open interest rising October 16, 2017 16:00 EDT

Bank of America Corporation (NYSE:BAC), NYSE's 3rd largest Bank by market cap, rose for a fifth consecutive week on Monday bringing its a five-week rise to $US2.88 or 12.3%. The share price increased 39.0c (or 1.5%) in the past week to close at $US26.24. Compared with the S&P 500 Index which rose 12.9 points (or 0.5%) in the week, this represented a relative price increase of 1.0%. The volume was 0.8 times average trading per week of 439.9 million shares. In the past week the market cap has risen $US3.8 billion.

1.2 5-day Recap

Bank of America outperformed the S&P 500 index in 3 out of 5 days.

DayHeadlineClose price [USD]Price change %Relative change %Comment
MondayBank of America up 3.1% in 2 days post earnings release26.241.61.4Top Rise
FridayBank of America outperforms 84% of the market25.831.51.4
TuesdayBank of America increases as investors eye earnings25.930.30.2

Note

DayHeadlineClose price [USD]Price change %Relative change %Comment
ThursdayBank of America underperforms 89% of the market ahead of earnings25.45-1.5-1.3Steepest Fall
WednesdayBank of America decreases as investors eye earnings25.83-0.4-0.7

SECTION 2: Technical indicators

Bullish:

The positive 0.46 MACD (Moving Average Convergence Divergence) indicator suggests a bullish signal (12-day minus 26-day Exponential Moving Averages). Both the 12-day and the 26-day EMA are rising - another bullish signal. In the past week, the stock's MACD has been positive every day, a reinforcing bullish signal.

In the NYSE market, the stock's relative price strength percentile is improving at 73 for 6 months, 75 for 3 months and 76 for 1 month.

In the last one month the stock has hit a new 52-week high nine times, pointing to a significant uptrend.

The price increased 1.7% in the last week and jumped 6.7% in the last month.

Fundamental measures by comparison with the sector average [in brackets] indicate:

Parity:

Price/Earnings of 17.6 [16.8]

Return on Equity 6.7% [7.3%]

Year-on-Year Earnings Growth of 14.5% [14.5%]

Undervaluation:

Price/Earnings/Growth of 0.86 [1.2]

Price to Book of 1.4 [1.6]

Return on Assets 0.8% [0.7%]

Overvaluation:

Dividend yield of 1.4% [2.0%]

SECTION 3: Ranking

DescriptionValueRank In Market
MCap $US billion259.7In Top 1%
1-month Range (in $US)24.4-26.4

SECTION 4: Earnings

FY2016 Annual Report: Bank of America EPS Growth slows to 14.5%

Bank of America (N:BAC), announced EPS of $US1.5 for the year-ended 31 December 2016, up 14.5% from $US1.31 in the previous year-ended 31 December 2015. EPS growth from the year-ended 31 December 2014 to the year-ended 31 December 2015 was 263.9%.

SECTION 5: Recent News of Bank of America

October 13: Bank of America Reports Third-Quarter 2017 Financial Results

CHARLOTTE, N.C.---- Bank of America reported its third-quarter 2017 financial results today. The news release, supplemental filing and investor presentation can be accessed in the following ways: This press release features multimedia. View the full release here:http://www.businesswire.com/news/home/20171013005265/en/ Investor Conference Call information Source: Nasdaq Stock Exchange

October 13: Investor Network: Bank of America Corporation to Host Earnings Call

NEW YORK, NY / / October 13, 2017 /Bank of America Corporation(NYSE:BAC) will be discussing their earnings results in their Q3 Earnings Call to be held October 13, 2017 at 8:30 AM Eastern Time. To listen to the event live - visit https://www.investornetwork.com/company/2818. Replay Information Source: Nasdaq Stock Exchange

October 13: Breakfast Technical Briefing on Banking Stocks -- Toronto-Dominion Bank, Bank of America, ICICI Bank, and JPMorgan Chase

NEW YORK, October 13, 2017 -- If you want a Stock Review on TD, BAC, IBN, or JPM then come over to http://dailystocktracker.com/register/ and sign up for your free customized report. Research reports have been issued by DailyStockTracker.com on The Toronto-Dominion Bank (NYSE:TD), Bank of America Corp.

October 10: End the Owe Woe

Bank of America Report Reveals Unpaid IOUs Can Sever Friendships, Introduces "Pay Back a Friend Day" on October 17 to Help Set Things Right CHARLOTTE, N.C.---- People would rather trip and fall in public than ask a friend to pay them back, yet many friendships end over the topic of money, according to a survey released today by Bank of America.

October 10: Bank of America (BAC) issued new U.S. patent [9,785,994]

Bank of America (BAC) has been issued a new U.S. patent titled "Providing comparison shopping experiences through an optical head-mounted displays in a wearable computer" by the US Patent and Trademark Office. The patent number is 9,785,994 and was issued on October 10, 2017.

ABSTRACT

Embodiments of the invention are directed to systems, methods and computer program products for aiding with purchase inquiries through an optical head-mounted display in a wearable computer.

Bank of America Corporation (N:BAC)

ISIN: US0605051046

PermID: 4295188068

CIK: 70858

CUSIP: 060505104

Source: www.BuySellSignals.com