INTC
looks like it will retrace to an old support level around the $44 mark. If it finds support there and gets rejected, I expect the price to move higher, to the $50 area, possible more. Long term: bullish bias
Short term: bearish bias (I would not take a short trade however)
Personally, I will wait for
INTC
to confirm the bullish bias and go long at that point. I will post an update later. Keep in mind that there has been a lot of insider buying done on this stock, this week. However, insiders aren't always best at timing the entries as they generally invest for the long term. If we wait a bit more I think we can get a better entry price. There is also a chip shortage right now so short-term it will probably drive the price down even further.
Good luck,
Your Ganbu
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