Below we will be discussing AAPL, BAC, CSCO, INTC, NVDA, RIMM, VXX
Apple Inc. (AAPL) - Apple Inc. (AAPL) is on a down streak that goes back to 2009 for most consecutive down days in a row. 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. Apple Inc. (AAPL) will become volatile on a break below $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) rallied back to the $20 area on Wednesday. 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.
iPath S&P 500 VIX Short-Term Futures ETN (VXX) - The iPath S&P 500 VIX Short-Term Futures ETN (VXX) have come down $10 in the past month as the stock market rallies back to new highs. VXX is a play on volatility and is starting to look attractive if you are looking to add protection to your portfolio. Sell in May and go away? If you believe this, add VXX to your holdings before May 2011.
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