The problem getting in with a stock like BAC, there is a lot of overhead supply.
There are still people in losing positions from 2010, 2008.... All these people
are looking for break even. There are also people seeing resistance and sell
at those levels, like 18 this last week, a round number but 2010 high was at
18.50. Resistance will be sold as well as round numbers 18, 19, 20. If we clear
20, if ever, then the round numbers get bigger ~EVERY 2.50. But the company
is healing, our horse is running and trying to kick off parasites attached to it's
You have a good point. And because of the volume and volatility the stock attracts big traders. Look at the charts for the last year and the trend is clearly up, but it walks a certain pattern. Nice strong 3 steps up and then sliding back 2 steps. But with earnings on the near horizon and events like possible dividend increase this week, these can break the patterns, or possibly re-establish at higher levels. The news channels are chock full of experts pounding the table that BAC is cheap and going higher. As long as market doesn't melt down I believe BAC is going higher, but it wont be a straight line. Still a good buy at this level and through the 18's. Depends on your time frame for profit and tolerance for churn.