INTEL CORP INTC DAILY pullback to key uptrend support
INTC has created a very interesting uptrend channel which I have labeled extensively here.
The latest washout gives the impression that it is breaking down, but you can see it is in a tightly defined bull flag at the bottom end of the range of a longer term, 9-month rising uptrend channel.
Buy this pullback and use 3 Average True Ranges as your stop and target a move to new highs, perhaps to $27.50-$28.00 on the next wave.
The green triangles are my way of displaying key support and resistance from previous earnings' release. You can see how important those levels have been for INTC in the last year.
Tim 5:47PM EST, Friday, March 16, 2014
The latest washout gives the impression that it is breaking down, but you can see it is in a tightly defined bull flag at the bottom end of the range of a longer term, 9-month rising uptrend channel.
Buy this pullback and use 3 Average True Ranges as your stop and target a move to new highs, perhaps to $27.50-$28.00 on the next wave.
The green triangles are my way of displaying key support and resistance from previous earnings' release. You can see how important those levels have been for INTC in the last year.
Tim 5:47PM EST, Friday, March 16, 2014
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