Below we will be doing technical analysis on BAC, RIMM, INTC, NFLX, GRPN
Bank of America Corp (BAC) - Bank of America Corp (BAC) is trading around $6.60 on Friday. BAC will have support located at $6.50 followed by $6.30. BAC will have resistance located at $7.00 now. 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) bounced nicely on Friday. RIMM will have support down at $17. RIMM will have resistance located at $19.67. 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 $24.07 as well as $27. Intel is a strong buy below $22. INTC has support down at $23.
Netflix Inc. (NFLX) - Netflix Inc. (NFLX) dropped back below $91 on Friday on a downgrade. NFLX will now have support located around $84. Netflix Inc. (NFLX) will have resistance located at $91 as well as $92.89. NFLX is a buy below $80..
Groupon (GRPN) - Groupon (GRPN) rallied up into the $31's but then crashed down below $27 as could be now forming a base. I traded GRPN stock several times today and hold a small amount of shares. Every $1 it falls, a buy for a trade and then sell on the rallies. Most expected Groupon (GRPN) stock to open much higher so the momentum isn't there like we saw in the LinkedIn (LNKD) IPO. However, if GRPN breaks up through $30 again today, it has the chance to catch fire again!
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