Below we will be doing technical analysis on BAC, RIMM, INTC, NFLX, USAT
Bank of America Corp (BAC) - Bank of America Corp (BAC) failed at resistance early Wednesday. BAC will have support located at $6.40 followed by $6.03. BAC will continue to have resistance up at $6.85. Bank of America Corp (BAC) should be sold above $8 for the rest of the year. Keep tight stops if you are trading BAC right now.
Research in Motion Ltd (RIMM) - Research in Motion Ltd (RIMM) was in the red on Wedensday. RIMM will have support down at $21.21. 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) jumped above $24 on Wednesday after reporting solid earnings. INTC will have resistance located at $25. Intel is a strong buy below $22. INTC has support down at $21 right now.
Netflix Inc. (NFLX) - Netflix Inc. (NFLX) dropped hard on Wednesday and is trading around $110. NFLX dropped below $111 yesterday so I was stopped back, looking to get back in when things settle down. Netflix Inc. (NFLX) will report earnings next Monday after the close of trading. Support is located at $103.
USA Technologies Inc. (USAT) - USA Technologies Inc. (USAT) is higher after the CEO was forced to resign today. USAT is a strong buy below $1.10.
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