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TheStreet Open House

5 Huge Stocks You Need to Sell

Stocks in this article: NOKNFLXPTRXOMINTC

Intel

You don't have to be an expert technical analyst to see what's going on in shares of Intel (INTC) right now. Like Exxon, Intel is currently forming a downtrending channel, a trading range that's bounded by a trendline resistance and trendline support level. Those support and resistance levels give us a high probability range for this stock to trade within.

One key difference in Intel's case is that its trend line support level is fanning out from its trendline resistance level. That's a bearish sign that indicates more volatility is pouring into shares.

And volatility is like kryptonite for a stock that's already in a downtrend.

In the shorter term, Intel has shown some more auspicious signs lately. It staged a bottoming pattern at the end of November, rallying up to hit its head on trendline resistance. But I haven't seen any indications that buyers have the strength to push shares through that long-term resistance range that's held INTC down for the last year.

With shares sitting right at resistance right now, risk is about as big as it gets. If you're looking to be a buyer in this semiconductor giant, I'd recommend waiting for Intel to find support first; there are just far too many sellers still here.

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