Below we will be doing technical analysis on BAC, RIMM, INTC, NFLX, STMP
Bank of America Corp (BAC) - Bank of America Corp (BAC) closed at $7.35 on Friday. BAC will have support located at $7.05 followed by $6.86. BAC will have resistance located at $7.43. Bank of America Corp (BAC) is a sell above $8 for the rest of 2011. Keep tight stops if you are trading BAC right now.
Research in Motion Ltd (RIMM) - Research in Motion Ltd (RIMM) has not participated in the recent stock market rally. RIMM will have support down at $19.50. RIMM will have resistance located at $23.40. The only reason I'd buy RIMM right now would be as a takeover target.
Intel Corporation (INTC) - Intel Corporation (INTC) recently reported blow out earnings. INTC will have resistance located at $25.03 as well as $27. Intel is a strong buy below $22. INTC has support down at $23.
Netflix Inc. (NFLX) - Netflix Inc. (NFLX) is showing some life in the mid $80's. NFLX will now have support located around $80. Netflix Inc. (NFLX) will have resistance located at $88 as well as $91. NFLX is a buy on a close above $91.
Stamps.com Inc. (STMP) - Stamps.com Inc. (STMP) stock surged on Friday after the company reported strong earnings. STMP has been spending a lot of money on advertising on CNBC so if we see this stop, look out below. STMP trades at 26 times 2012 earnings right now.
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