The long term is very interesting indeed. INTC has some solid momentum and great products to drive earnings growth for a long time. The chart is constructive on the monthly and is at a new high going back 10 years. The rules that I use to define Head&Shoulders and Inverted H&S do not allow me to label it as an inverted H&S. Basically, the logic is that you need to have a BODY in order to have a Head&Shoulders. The body needs to be twice the size of the H&S at a minimum. This is just the way I look at it. The H&S is a reversal pattern, but you need a trend to reverse and hence the reason for the move before the pattern to set it up. The monthly is a range expansion and let's hope for some shorter term corrections to enter long in INTC. I'll keep a close eye on it as I watch it every day. Thanks for the comments and questions.
Hi Tim - I bought puts 2 days back and sold today as i wasnt seeing any downside movement even market went down nice. I sold at good time and look at today AH. Its up 1.34. It broke the resistance with strong qtr forecast and now it can go up more till erng on 15th July. I feel it might hit easy 32.