Stock Trade Ideas For Thursday: Amazon, Intel

Chart courtesy of stockcharts ( click to enlarge )

Intel (INTC) - The near-term outlook is bearish and the stock could drop to the 12.50-12.65 range. Technicals are currently oversold but remain neutral to bearish signaling sideways to lower prices possible in the near term. Only a close above 13.63 will confirm the short term low for the stock. I’m looking for a good trade if the prices close above this level. On the downside the next target is 12.50.

Chart courtesy of stockcharts ( click to enlarge )

Amazon (AMZN) - Technically, there is no reason to take exposure in Amazon as there is no evidence of the reversal of the ongoing downward move. For now, it would be better to stay away from this stock. The near-term outlook is bearish and the stock could drop to the 47-45 range. Stop loss for long positions may be placed at 48.37. A close below this level would impart weakness in the stock.

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