Below we will be doing technical analysis on BAC, NFLX, RIMM, INTC, SINA
Bank of America Corp (BAC) - Bank of America Corp (BAC) is higher by 4% on Thursday. BAC will have support located at $6.00 followed by $5.49 on the downside. BAC will continue to have resistance up around $6.85. Bank of America Corp (BAC) will hit resistance up in the low to mid $7's after $6.85. Keep tight stops if you are trading BAC right now.
Netflix Inc. (NFLX) - Netflix Inc. (NFLX) continues to be very weak and hit a new 52 week low today. NFLX stock will have resistance located at $128 now. NFLX will have support down at $100. NFLX will be a stock to watch going into earnings season this time around. I would be a buyer of NFLX below $100 for a bounce.
Research in Motion Ltd (RIMM) - Research in Motion Ltd (RIMM) is flat on Thursday. RIMM will have support down at $21.00. 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 above $22. INTC will have resistance located at $24. Intel remains a strong buy below $20. INTC has support down at $19.75 right now.
Sina Corp. (SINA) - Sina Corp. (SINA) was trashed today as all the momentum china stocks were thrown out for trash. SINA held support at $66 and then rallied about $7 off the low to $75. Buy SINA below $70 with a tight stop at $68 or $66.
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