Below we will be doing technical analysis on BAC, NFLX, RIMM, INTC, RRC
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.
Range Resources Corporation (RRC) - Range Resources Corporation (RRC) is now back over $60 after falling into the low $59's earlier. RRC is now down $18 since hitting a new 52 week high a few days ago.
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