Below we will be discussing AAPL, BAC, CSCO, INTC, NVDA, RIMM, BLTI
Apple Inc. (AAPL) - Apple Inc. (AAPL) dropped back below $340 and continues to struggle. AAPL is continuing the recent downtrend and could be getting ready to take a new leg lower. AAPL will have resistance on the upside located around $345-$348. Apple Inc has support at $330 as well as $326.
Bank of America Corp (BAC) - Bank of America Corp (BAC) was strong on Wednesday. The financials remain weak but BAC stock has been basing in the mid $13's. BAC has been called the worst financial right now but as long as the stock remains above $13, I like it.
Cisco Systems Inc. (CSCO) - Cisco Systems Inc. (CSCO) rallied hard on Wednesday and is breaking out technically. CSCO is a buy down here for the long term and I think once the CEO hints at a positive forecast, the stock will shine again. CSCO is trading at $17 for a reason, Wall St hates it right now.
Intel Corporation (INTC) - Intel Corporation (INTC) continues to trade below $20. INTC will have resistance located at $20 followed by $21. Intel remains a strong buy below $21. Intel has support down at $19 this week.
NVIDIA Corporation (NVDA) - NVIDIA Corporation (NVDA) dropped into the low $17's on Wednesday. NVDA is a buy below $20 for the long term.
Research in Motion Ltd (RIMM) - Research in Motion Ltd (RIMM) spiked back above $55 on Wednesday. RIMM is a buy below $55 for the long term. RIMM will have resistance located at $60-$65.
Biolase Technology, Inc. (BLTI) - Biolase Technology, Inc. (BLTI) hit a fresh 52 week high on Wednesday after the company issued positive guidance going forward. Keep an eye on BLTI for the rest of the week.
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