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Monday, August 1, 2011
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Below we will be discussing BAC, NFLX, RIMM, INTC
Bank of America Corp (BAC) - Bank of America Corp (BAC) is trading at $10 on Monday. BAC has solid support in the mid $9 range so I expect more buying if we see another pullback. BAC will now have resistance up at $10.27 which was the recent high. BAC is a buy on a close above $10.25 with a tight stop.
Netflix Inc. (NFLX) - Netflix Inc. (NFLX) is back trading near $270 this morning. NFLX stock will have resistance located at $275. NFLX will have support down at $250. At this point, I would not be a buyer unless NFLX dropped below $220 which may never happen.
Research in Motion Ltd (RIMM) - Research in Motion Ltd (RIMM) is back above $25 on Monday. RIMM will now have support down at $21.50. RIMM will have resistance located at $30.25. The only reason I'd buy RIMM right now would be as a takeover target.
Intel Corporation (INTC) - Intel Corporation (INTC) is now back trading below $23. INTC will have resistance located at $23.96. Intel remains a strong buy below $21. INTC has support down at $22 right now.
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