More US banks report earnings this week after last week saw strong earnings from JPMorgan & Citi.

US banks are to continue reporting earnings this week with Bank of America & Morgan Stanley reporting on Tuesday.

Bank of America

NYSE “BAC” looks to report earnings on Tuesday before the opening bell with forecasted EPS of $0.84c. Looking at the chart it seems as though the bank does need a robust set of earnings to help buoy its share price. RSI currently reads 45 on the weekly timeframe with MACD trending higher, however, last week's session posted quite a reversal candlestick possibly suggesting a decline back to the lows of 2023 where support could be found at $26.90. Towards the upside upbeat earnings could help push BoA higher toward $30, with a further upside move towards $32 in the medium term. On the daily timeframe, things don’t look great with quite a large engulfing candlestick over previous days. The bank is lagging behind right now compared to its peers and needs a push higher. Technicals are mixed giving no real clear direction therefore investors will be focusing on the financials and fundamentals this week.