Below we will be discussing AAPL, BAC, CSCO, INTC, NVDA, RIMM, XNPT, VXX
Apple Inc. (AAPL) - Apple Inc. (AAPL) closed up on the day by 4 pennies after six straight down days. 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 flat on Thursday. The financials have reversed their downtrends and 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) pulled back after a huge rally on Wednesday. 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 in the $17's for a reason, Wall St hates it right now.
Intel Corporation (INTC) - Intel Corporation (INTC) traded back above $20 on Thursday. 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) spiked above $18 on Thursday. NVDA is a buy below $20 for the long term.
Research in Motion Ltd (RIMM) - Research in Motion Ltd (RIMM) continues to trade above $55. RIMM is a buy below $55 for the long term. RIMM will have resistance located at $60-$65.
Xenoport, Inc. (XNPT) - Xenoport, Inc. (XNPT) was higher on Thursday due to FDA approval for their restless leg syndrome druge. XNPT will have support down at $9.70. XNPT will have resistance at $10.80 and $11.34.
iPath S&P 500 VIX Short-Term Futures ETN (VXX) - The iPath S&P 500 VIX Short-Term Futures ETN (VXX) spiked Thursday due the the stock market being down. 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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