Below we will be doing technical analysis on BAC, NFLX, RIMM, INTC, GMCR
Bank of America Corp (BAC) - Bank of America Corp (BAC) made a higher low at $6.07 on Friday morning. BAC will have support located at $6.00 followed by $5.49 on the downside. BAC will now have resistance up around $6.85. BAC has not bottomed quite yet. Bank of America Corp (BAC) could be headed down into the low $5's before the next major bounce. Keep tight stops if you are trading the stock.
Netflix Inc. (NFLX) - Netflix Inc. (NFLX) continues to rebound after the two upgrades on Thursday. NFLX stock will have resistance located at $137. NFLX will have support down at $125. NFLX could be getting ready to bounce here and I now feel NFLX is a strong buy below $140. I'd wait for the stock to break $137 on the upside and jump in for a trade.
Research in Motion Ltd (RIMM) - Research in Motion Ltd (RIMM) stock rallied 2% on Friday. RIMM will have support down at $21.00. RIMM will have resistance located at $22.10. The only reason I'd buy RIMM right now would be as a takeover target.
Intel Corporation (INTC) - Intel Corporation (INTC) is trading back below $22. INTC will have resistance located at $22.50. Intel remains a strong buy below $20. INTC has support down at $19.75 right now.
Youku.com Inc (YOKU) - Youku.com Inc (YOKU) was upgraded by Susquehanna on Friday citing the drop from $70 to $14 baked in all risks to the stock. YOKU will now have resistance up at $18.43.
Green Mountain Coffee Roasters Inc. (GMCR) - Green Mountain Coffee Roasters Inc. (GMCR) is only down about 10% from It's high as the high growth company continues to perform well. GMCR has inked deals with Starbucks (SBUX) and Dunkin' Donuts (DNKN) via K-Cups which will help growth going forward. GMCR is a buy below $90 per share.
For more updates on the stock market, visit http://daytradingstockblog.blogspot.com
