Below we will be doing technical analysis on BAC, NFLX, RIMM, INTC, WLT
Bank of America Corp (BAC) - Bank of America Corp (BAC) is trading near $7.30 on Wednesday morning. BAC will have support located at $6.30 on the downside. BAC will now have resistance up around $7.75. BAC could have finally bottomed as the stock is putting in higher lows. Bank of America Corp (BAC) is a buy below $7.00.
Netflix Inc. (NFLX) - Netflix Inc. (NFLX) stock is trading down $5 this morning as Citigroup's Chairman Dick Parson said he would short the stock. NFLX stock will have resistance located at $220. NFLX will have support down at $200. NFLX is a light buy below $210. If NFLX dropped below $200, the stock becomes a strong buy.
Research in Motion Ltd (RIMM) - Research in Motion Ltd (RIMM) is back above $31 on Wednesday. RIMM will have support down at $27. RIMM will have resistance located at $33. The only reason I'd buy RIMM right now would be as a takeover target.
Intel Corporation (INTC) - Intel Corporation (INTC) is trading back near $20. INTC will have resistance located at $21.20. Intel remains a strong buy below $20. INTC has support down at $19.00 right now.
Walter Energy (WLT) - Walter Energy (WLT) is up 28% today after takeover rumors started swirling in pre market this morning. WLT was up to $89.50 in pre market but surged after the stock opened for trading.
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