E = Excellent Relative Performance Versus Peers and Sector
Bank of America’s relative to performance to its industry and peers can let us know if it is a leader in its industry. As of today, Bank of America is returning -5.03 percent year-to-date. In contrast, its peers, JP Morgan (NYSE:JPM), Wells Fargo (NYSE:WFC), Citigroup (NYSE:C), and industry are returning 9.36 percent, 2.11 percent, 3.59 percent, and 5.04 percent respectively. So, Bank of America stock has been a dog relative to its closest competitors.
Bank of America is suffering in an industry that is beginning to recover. It has the resources to turn things around, but it may take some time. On the price chart, Bank of America is in a long term downtrend but may indeed see a pop towards $15. The moving averages are signaling a strong uptrend in the short term, but one must be wary of overhead resistance. The options market are buying protection, but investors seem to be taking a neutral to bullish stance. Lastly, Bank of America is strongly underperforming compared to its competitors year-to-date. So, WAIT AND SEE what Bank of America has to offer.
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