Use this graph to draw trend lines for Bank of America Corporation. You can use it to identify possible trend reversals for B of A as well as other signals and approximate when it will take place. Remember, you need at least two touches of the trend line with actual B of A price movement. To start drawing, click on the pencil icon on top-right. To remove the trend, use eraser icon.
B of A Best Fit Change Line
The following chart estimates an ordinary least squares regression model for Bank of America Corporation applied against its price change over selected period. The best fit line has a slop of 1.29 %
which may suggest that Bank of America Corporation market price will keep on failing further. It has 42 observation points and regression sum of squers of 2552.92 which is sum of squared deviations of the predicted B of A price change against its avarage change.
B of A has a best fit line with a correlation coefficient of -0.14. and coefficient of determination of 0.02. Note, that the company has price/earnings (p/e) ratio of 357.82.