Below we will be doing technical analysis on BAC, RIMM, INTC, NFLX, MELI
Bank of America Corp (BAC) - Bank of America Corp (BAC) is trading around $6.70 on Thursday. 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) is hitting another 52 week low on Thursday 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 $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) stock is back trading above $85. NFLX will now have support located around $77. Netflix Inc. (NFLX) will have resistance located at $88 as well as $91. NFLX is a buy on a close above $91.
Mercadolibre, Inc. (MELI) - Mercadolibre, Inc. (MELI) surged over 34% today after better than expected earnings. MELI was also upgraded to buy by a major firm. MELI could hit $95 by year end.
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