akillam1
Short

INTC - Watching for PUT entry

NASDAQ:INTC   INTEL CORP
INTC has been in a bear market for the past 3 months. They have been struggling with their fabrication of the smaller node sizes. This is something that most chip companies are experiencing as Moore's Law approaches the end. This has given AMD a chance to steal market share from the giant INTC . Intel will continue to struggle until they show positive results of their future generation products. Technically speaking, it is trying to break the downtrend falling wedge but hitting resistance around 47.50. I think this will start falling back down to the low 40s. I'll be looking for a put entry around 46.75-47.00 with an initial PT around 45 and secondary PT around 40-44.
Good analysis and I'm completely with you here!
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