Below we will be doing technical analysis on BAC, NFLX, RIMM, INTC, FMCN
Bank of America Corp (BAC) - Bank of America Corp (BAC) closed down 6% on Friday. BAC will have support located at $5.51 followed by $5.13. BAC will now have resistance up around $6.33. Bank of America Corp (BAC) will hit resistance at $6.85 after $6.33. Keep tight stops if you are trading BAC right now.
Netflix Inc. (NFLX) - Netflix Inc. (NFLX) stock failed at $125 resistance on Friday and close below $118. NFLX stock will have resistance located at $125 & $128. 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) fell 4.3% on Friday. 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) rallied hard on Friday despite the stock market weakness. INTC will have resistance located at $24. Intel remains a strong buy below $20. INTC has support down at $21 right now.
Focus Media Holding Ltd. (FMCN) - Focus Media Holding Ltd. (FMCN) was one of the biggest gainers last week. FMCN stock rallied from the $16's up into the $23's in a matter of days. FMCN will have resistance located at $25.77 going forward.
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