Tom_Killick
Short

INTC: Update: Bear Momentum Increasing, In The Money #Intel

NASDAQ:INTC   INTEL CORP
75 0 3
Traders,

UPDATE: Anyone who followed my previous ideas is well in the money, so well done.

We have interesting set up with Intel             . We have hit a long term Fibonacci extension target giving us a three drivers completion. But the situation is more complicated, as we have been trading range bound for some time since the target was hit. We are seeing follow through movement off these levels, and expecting bears to force their way in.

I am waiting for resolution, and I although unsure, will say I think a short in more likely from this level. But right this second I think bears will eventually have their day.

Best of luck,
Tom

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