RSI Flashes Caution as BAC Extends to $56.17

Bank of America Corp (BAC) closed down 0.15% at $56.17 on December 27.

Technical indicators paint a bullish picture:

• Moving Averages: Price trades above the 9-day EMA ($55.48) with a bullish stack. The 21-day EMA at $54.70 provides support.
• Momentum: RSI at 72.0 is in overbought territory, suggesting potential near-term exhaustion. MACD is bullish (0.87 vs signal 0.74).
• Volatility: Bollinger Band width at 6.9% indicates low volatility.

While the trend remains bullish, elevated RSI warrants caution for new entries at current levels.

Key levels to watch: Support at $52.69, Resistance at $56.48.