![\"bank](\"http:\/\/www.laidtrades.com\/wp-content\/uploads\/2010\/07\/062110bac.png\")
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The Bank of America, the largest bank holding company in the US in terms of assets, or the BAC<\/a> in the New York Stock Exchange reported that its second quarter net earnings had slipped by 3% to $3.12 billion from $3.22 billion in the same leg the year before. Still, the company managed to hike its consumer loan business which caused its quarter-over-quarter net income to expand by 15%. In any case, the drop in its revenues from last year led investors to sell-off its shares.<\/p>\n As you can see from the chart, the shares of BAC made a bearish gap following the company\u2019s earnings report. At the present, BAC is exchanging just above the 13.50 support. A break below this level would be critical as its next support would already be at 10.0. Technically, a move lower seems to be more probable. Notice that its shares are already trading below the 50-day and 200-day moving averages. Given this, it would therefore need a lot more buying interest to keep it afloat. Both the RSI and MACD are likewise showing some bearish signals with the former having a score of less than 50 and the latter just turning negative. What\u2019s worse is that a bearish gap is usually followed by a couple more gap downs. Time to sell at strength?<\/p>\n