Below we will be doing technical analysis on BAC, NFLX, RIMM, INTC, AKAM
Bank of America Corp (BAC) - Bank of America Corp (BAC) closed at $6.12 on Friday. 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) finally saw a bounce and closed in the green on Friday. 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) hit a new 52 week low of Friday located at $20.28. RIMM will have support down at $20. 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 below $22. INTC will have resistance located at $24. Intel remains a strong buy below $20. INTC has support down at $19.75 right now.
Yum! Brands, Inc. (YUM) - Yum! Brands, Inc. (YUM) dropped on Friday with the overall stock market. YUM will report quarterly earnings on Tuesday morning before the market opens.
Akamai Technologies Inc. (AKAM) - Akamai Technologies Inc. (AKAM) dropped below $20 on Friday which was close to a new 52 week low. AKAM is still expected to report solid earnings in October so this is one stock to watch for a potential bounce trade. AKAM will have resistance located at $22.75.
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