A key Bank of America stock price indicator is flashing a warning sign that European equities could be at risk of a price crash in the coming weeks. The bank’s European Momentum Conviction Indicator (MCI) — a key measure of the underlying strength of stocks’ recent performance and future direction — has plunged to 17, BofA quant strategists said. That score is now well inside the critical danger zone threshold of below 30, they explained in a note Thursday, suggesting a sharp market reversal could now be in the cards. A 30-or-below reading on BofA’s MCI typically points to a greater risk of a 12-month price momentum crash over the next 4-8 weeks. Paulina Strzelinska, BofA quant strategist, said the deepening price momentum crash…
