Bank of America (NYSE: BAC) broke through resistance of $15 with the help of strong earnings from JP Morgan (NYSE: JPM). Bank of America has been stuck below the $15 range for quite sometime, a number where investors thought the bank would not see again. $15 is where Bank of America had priced its secondary offering, supplying large resistance on the way down, and on the way back up. Andy "Raw" Kibbens, co-CEO of The Markets Are Open, believes that America's largest bank will now be able to head straight for its true value without hindrance by the "technical bears", Wall Street lingo for chartists who claim a stock is a sell based solely on technical analysis.
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