If you look at this from technical he is correct. And this is not a bad thing. A pull back to the 10 Day Moving average after a rally has been the pattern and actually is a good sign that it is taking a breathe before going higher. With that said... the chart also shows that there is a possiblity of a major gap up to a new high in the mid 14s. Personally, I am banking on a pull back before it officially moves to higher levels.
Why do you fuqers always say that crap. When a stock is tumbling do you ever say "hey, according to my chart fart it should take a breather, i think a nice gain of 2 dollars is what we need before we go down further," if you morons made money off your charts you wouldnt be posting on a yahoo MB..
Nothing goes straight up. BAC has been green for a bunch of days in a row. Yes it is undervalued, but people will begin taking profits, and the revision to the ten day is pretty standard. This stock moved between 10-12 for a long time, then between 12-13.50, and now who knows what the next band will be. I am guessing the bottom maybe somewhere around 13 simply based on the stock's beta.