Below we will be doing technical analysis on BAC, NFLX, RIMM, INTC, MELA
Bank of America Corp (BAC) - Bank of America Corp (BAC) hit $6.50 on Monday. 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 $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 last week. NFLX stock will have resistance located at $138. 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 $138 on the upside and jump in for a trade.
Research in Motion Ltd (RIMM) - Research in Motion Ltd (RIMM) is flat so far this morning. 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 above $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) stock surged on Monday after the company received FDA Approval. MELA will have support around $4.80.
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