BofA spotlights opportunities with EA, HON, CRM, VRE, MTD, and MCHP

The Bank of America global research team spotlighted four buying opportunities and two selling opportunities on Thursday for investors.

As for the four bulls the bank referenced shares of Electronic Arts (NASDAQ:EA), Honeywell (NASDAQ:HON), Salesforce (NYSE:CRM), and Veris Residential (NYSE:VRE). On the flip side, the two bearish sells were Mettler Toledo (MTD), and Microchip Technology Incorporated (MCHP).

Highlighted below are each of the six names along with their current price levels, targeted ranges, and comments made by BofA.

Electronic Arts (EA)

• Current Level: $164.12
• Target Range: $179 then $215 to $226
• “Holding the 153.50-143 to 138 range would keep this bullish technical setup intact and suggest upside potential to pattern counts at 179 and then 215 to 226,” BofA noted.

Honeywell (HON)

• Current Level: $230.67
• Target Range: $265 to $275
• “Big base breakout targets 265 to 275… Holding 223-219, with rising weekly moving averages (MAs) from 210-202, would keep the technical setup constructive for HON.”

Salesforce (CRM)

• Current Level: $331.65
• Target Range: $400 to $404 and $490 to $500
• “Holding the 325-311 to 290 range would keep the technicals positive for CRM and suggest upside potential to 400-404 (measured move) and 490-500 (H&S pattern count).”

Veris Residential (VRE)

• Current Level: $18.28
• Target Range: $23.60’s to $27
• “Sustaining the push above 18 would keep the immediate pattern bullish. Rising weekly MAs and chart support from 17.45 to the 16 area underpin this positive backdrop on VRE.”

Mettler Toledo (MTD)

• Current Level: $1,237.78
• Target Range: $1,140’s to 1,180’s
• “The immediate pattern is bearish below 1285-1312 (breakdown zone) with downside risk to chart levels at 1143-1115 and the triple top pattern count in the 1080s.”

Microchip Technology Incorporated (MCHP)

• Current Level: $65.60
• Target Range: $55 to $54
• “While below the prior lows at 67.69-68.85 up to 71.76-73.15, these breakdowns remain intact with downside risk on MCHP to the 2022 lows at 55-54.”