andrew.berg
Long

INTC wedge in strong uptrend

NASDAQ:INTC   INTEL CORP
Market is choppy in 2014 with lack of continuation moves both sides. So, theme of the year is stock specifique approach. I am looking for strong stocks, buying pullbacks and support.

Intel             is in strong uptrend since the beginning of 2013             year.
Now, stock is wedging. Support at $26.00 could be our stop.
Next resistance (target is $27.12 double top )

If it will break down $26 where 50 MA lies, then next buyable area could be 200MA and major trend line at $24.50-.75.
I am watching this one like a hawk too - ready to get back in on the long side. I like your comments and charts. Nice work.
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I have "breakout failure" scenario of SPY in my head and with recent weakness in technology sector Intel may drop $26 and pull back more deeply to major trend lines.

Thank you, I appreciate your feedback.
+1 Reply
timwest PRO andrew.berg
I'm still watching... this washout under $26 might be a decent time to get back in.... I'm very close to buying
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very nice, steep move in Intel. Now it should hold above previous swing high at $27.24 to keep its buying momentum
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