Automatic wave scan: as of 6 Nov 2026, the automatic daily count for Bank of America is Wave A up with a bullish bias. The count stays valid while price holds 49.17.
Current Bank of America wave count
Automatic wave scan Updated daily from the latest daily close (4 Nov 2026). Computer generated from swing highs and lows, not reviewed by an analyst.
Automatic scan: the five wave decline from 65.23 (17 Aug 2026) looks complete and price is in wave A, the first leg of a correction. Next levels to watch are 55.30 and 57.20. The view fails on a daily close below 49.17.
Key levels
| Type | Levels |
|---|---|
| Resistance | 52.64 · 54.93 |
| Support | 49.17 · 49.26 |
| Invalidation | 49.17 |
What is Bank of America?
Bank of America is based in Charlotte, North Carolina. Its modern form came from the 1998 merger of NationsBank and BankAmerica. It bought Merrill Lynch in 2009.
The bank has one of the largest US deposit bases, which makes it highly sensitive to changes in interest rates.
What moves the Bank of America price?
- Interest rates: Rate changes affect net interest income.
- Bond portfolio: Unrealized losses on bonds can rise when yields jump.
- Consumer credit: Card and loan defaults affect profits.
- Wealth management: Merrill brings fee income.
- Buybacks: Capital returns depend on regulatory stress tests.
How Bank of America moves in Elliott Wave terms
BAC's chart shows large swings tied to rate cycles, such as the 2021 to 2023 decline and later recovery. Its waves often move with the XLF ETF and JPMorgan.
Corrections can be deep during banking stress, as in March 2023.
Tips for counting Bank of America waves
Compare with JPM and the 10-year yield. Quarterly earnings reports often start or end a wave. Price gaps after results can skip over levels, so place stops with gaps in mind.
Bank of America key facts
Bank of America Elliott Wave FAQ
Did Bank of America buy Merrill Lynch?
Yes, in January 2009, during the financial crisis.
Why is BAC sensitive to rates?
It has a very large deposit base and bond portfolio, so rate changes have a big effect on income and bond values.
Where is Bank of America based?
Charlotte, North Carolina.
Sources and further reading
- Bank of America filings (10-K and 10-Q) (U.S. Securities and Exchange Commission)
- Bank of America Investor Relations (Bank of America)
- Bank of America (Wikipedia)
Educational content only. Nothing on this page is financial advice or a recommendation to buy or sell. Trading involves risk and you can lose money. Elliott Wave counts are probabilities, not certainties. Read our full disclaimer and affiliate disclosure.
