Below we will be discussing BAC, NFLX, RIMM, INTC, CSCO
Bank of America Corp (BAC) - Bank of America Corp (BAC) is currently trading above $7.00 today. BAC will have support at $6.31 for the next two weeks which was the recent low. BAC will now have resistance up at $7.70 which was the high on Monday. BAC is a risky stock right now but could surge on a break above $7.70. Dick Bove said on CNBC he's not buying stocks yet but if he was, he'd buy Bank of America. Donald Trump recently bought BAC stock as well.
Netflix Inc. (NFLX) - Netflix Inc. (NFLX) is now trading in the $230's. NFLX stock will have resistance located at $240. NFLX will have support down at $220. At this point, I would not be a buyer unless NFLX drops below $220.
Research in Motion Ltd (RIMM) - Research in Motion Ltd (RIMM) failed at $23 so far on Thursday. RIMM will have support down at $21.50. RIMM will have resistance located at $23.09. The only reason I'd buy RIMM right now would be as a takeover target.
Intel Corporation (INTC) - Intel Corporation (INTC) is now back trading above $20. INTC will have resistance located at $21.20. Intel remains a strong buy below $21. INTC has support down at $19.50 right now.
Cisco Systems Inc. (CSCO) - Cisco Systems Inc. (CSCO) reported a revenue and earnings beat last night which is causing the stock to hit $16 today. CSCO will now have resistance located at $16.85.
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