This story was originally published here.
U.S. equities underwent a massive rally on Monday, with the S&P 500, rallying almost 8% at one point. That said, here’s a look at a few top stock trades.
Top Stock Trades for Tomorrow No. 1: Intel (INTC)
Click to Enlarge
Source: Chart courtesy of StockCharts.com
So many investors seem focused on Nvidia (NASDAQ:NVDA) and Advanced Micro Devices (NASDAQ:AMD), that it feels like very little attention has been going to Intel (NASDAQ:INTC).
Of the three, Intel has fallen the least from its highs (although it’s only outperforming Nvidia by about 30 basis points, at down 16% vs. down 16.3%). Still, INTC deserves some attention.
Shares are moving to one-month highs, as it pushes for $60. If it can clear $60, uptrend resistance (purple line) is in play, a level that took several years for Intel to breakout over, which happened earlier this year.
Should the stock run out of gas, see if the 50-week moving can cushion a pullback. Below that puts $50 in play. Notice the near-perfect bounce off the 200-week moving average from last month. Investors would only be so lucky to nab this stock again in the low-$40s. We’ll see. Compare Brokers
Top Stock Trades for Tomorrow No. 2: Zoom Video (ZM)
Click to Enlarge
Source: Chart courtesy of StockCharts.com
We recently talked about Zoom Video (NASDAQ:ZM) after it failed to breakout over $160. Since then, it has struggled for upside and the company-specific news hasn’t been kind.
Shares feel considerably on Monday, but found buyers on a test of the 50-day moving average. Until it can reclaim the 20-day moving average and $125 level though, bulls lack control.
Below the 50-day moving average puts the $105 level in play. Below that and $90 is on the table, along with the 200-day moving average.
Editor's Note: For the other two trades, click here.
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