Bank of America (BAC)

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BAC: A breakout from a big cup and handle base points to 62 and 70

We highlighted Bank of America (BAC) as bullish in our Jul 31 The Stock Pulse report. Continuing to hold the 50-48 area would keep the breakout from a late 2021 into mid 2025 big base cup and handle formation intact for further upside beyond the late 2006 and late 2007 peaks from 52.94 to 55.08 toward the cup and handle pattern counts at 62 and 70.

Rising 13-, 26-, and 40-week moving averages at 41.46, 48.77, and 46.17, respectively, reinforce this bullish backdrop for BAC.

BAC has improved relative to the S&P 500 since late 2023. A breakout from a late 2024 into late 2025 basing pattern would continue the stock's leadership trend from late 2023.

Chart 1: Bank of America (BAC) (top) and relative to the S&P 500 (bottom)