Stock Picks For Thursday: Intel, Level 3 Communications And Wells Fargo

Chart courtesy of www.stockcharts.com ( click to enlarge )

Wells Fargo (WFC) showed some signs of strength on Wednesday, as the stock closed up $.90 on the day. The stock broke resistance today, but it was too late for me to make a trade. I feel there will be a continuation move on Thursday, and I’m buyer once it breaks through Wednesday’s high of $25.47. From the technical chart above we can see that the stock is on a bull market as the stock is trading above both 50 day and 200 day moving average and the 50 day moving average is on top of 200 day moving average heading upwards. From here, the stock might run to $27 according to the way the market is acting now.

Chart courtesy of www.stockcharts.com ( click to enlarge )

Over the past five weeks Level 3 Communications (LVLT) has experienced a huge increase in volume along with some strong price movement. Looking at the daily chart the stock broke out from a symmetrical triangle pattern breaking out of resistance around $1.5/share. I believe price action will make a quick run near to 1.77.

Chart courtesy of www.stockcharts.com ( click to enlarge )

Intel (INTC) was a big winner on Wednesday, as the stock traded higher on good news and strong earnings from the company. The stock hit a high of $18.19, which is resistance for the continuation move. From a technical standpoint, the stock is very strong. Now that the stock is on an uptrend with MACD above the signal line, any pull back would mean great buying opportunity.

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.

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