The Strong Keep Chugging: AMZN, INTC

In a market frightened by the end of QE2, ugly Jobless Claims numbers and commodity prices that seem to be moving faster than a small cap stock, Intel Corporation (NASDAQ:INTC) and, Inc. (NASDAQ:AMZN) keep pushing higher. These two stocks were probably the best performers following their earnings releases in the last month. Both stocks soared on earnings and even with the weak market, have done little but continue higher.

Intel looks destined for a double top from its 2010 highs at $24.25. This will be the beginning of major resistance for a stock that has jumped from under $20.00 per share prior to earnings to its current level of $23.65, +0.24 (+1.03%).

Amazon continues its upward climb, now over $200.00 per share. This stock reported stellar revenue numbers as the online retailer seems to have growth in the title again. The stock will enter a resistance area around $210.00 to $215.00.

About Gareth Soloway 168 Articles


Gareth Soloway has been an avid swing and day trader since his days at Binghamton University where he studied Economics. After college, Gareth quickly excelled as a financial advisor, helping clients get their financial houses in order. While helping others gain financial independence, he continued to study the day trading and swing trading world, developing a unique market philosophy and proprietary methods. Following his work in the financial sector, Gareth went on to trade alongside professional traders. Unable to tolerate the hype of Wall Street any longer and having an amazing ability to profit using his developed techniques, Gareth Soloway decided to partner with his friend and colleague, Nicholas Santiago to form Chief Market Strategist Gareth Soloway serves as the president and CFO of InTheMoneyStocks.Com.

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