Below we will be doing technical analysis on BAC, NFLX, RIMM, INTC, MELA
Bank of America Corp (BAC) - Bank of America Corp (BAC) closed at $7.23 on Friday. BAC will have support located at $6.80 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) tanked on Friday after the company lowered subscriber guidance. NFLX stock will have resistance located at $168. NFLX will have support down at $140. NFLX is a buy below $160 for the long term. If NFLX dropped below $140, the stock becomes a strong buy.
Research in Motion Ltd (RIMM) - Research in Motion Ltd (RIMM) tanked on Friday after the company reported earnings. RIMM will have support down at $21.60. RIMM will have resistance located at $25. 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 $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.
MELA Sciences, Inc. (MELA) - MELA Sciences, Inc. (MELA) continues to rally hard after the company received EU approval. MELA stock will have resistance located at $4.00.
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