Bank of America (BAC): Bull is Taking a Break!

Bank of America has been on the bull run recently after passing the stress test. It looks like BAC is taking a breather now as this stock is facing the $10.00 psychological resistance. Weekly chart show a Doji after a bullish marubozu candle indicates the end of the recent short up trend. Daily chart shows the consolidation at about $9.80 as BAC cannot clear the $10.00 mark for the past 3 sessions. A Bull Flag may be in formation and look out for the $10.00 breakout. The Price to Book (P/B) Ratio for BAC is 0.45 which is under value base on this valuation method.

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