Bank of America (BAC): Breakout from Ascending Triangle

Technical Analysis on Bank of America (BAC)
  • BAC broke out from Ascending Triangle at $10.00 and heading towards the breakout target price of $12.00 (also 161.8% FR)
  • RSI = 75 overbought region.
  • Currently BAC has reversed to uptrend (above 20D, 50D and 200D SMA).
  • Too late to chase now. Wait for the retracement back to $10.00 to test the resistance turned support for a better entry point.

Key Statistics for BAC

Current P/E Ratio (ttm) 18.5082
Estimated P/E(12/2012) 19.6348
Relative P/E vs. SPX 1.2722
Earnings Per Share (USD) (ttm) 0.6100
Est. EPS (USD) (12/2012) 0.5750
Est. PEG Ratio 2.0668
Market Cap (M USD) 121,684.50
Shares Outstanding (M) 10,778.08
30 Day Average Volume 159,106,896
Price/Book (mrq) 0.5535
Price/Sale (ttm) 1.1136
Dividend Indicated Gross Yield 0.35%
Cash Dividend (USD) 0.0100
Last Dividend 12/05/2012
5 Year Dividend Growth -55.91%
Next Earnings Announcement 01/17/2013

This Post Has 2 Comments

  1. BL

    BAC’s P/B ratio is only 0.55+. Most stocks that are trading below book value are loss making companies. But BAC is generating good profits. Market is WRONG in pricing the share price too low. This stock will eventually trade above its book value, that means Price to Book ratio should go above 1.00. This means that upside potential is 100% to 300%, while downside potential is limited.

  2. Marubozu

    Upside potential is huge for BAC if we have patient to wait. Furthermore, fund managers able to put BAC into their portfolio now because it is no longer a penny stock in US! A gem to watch!

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