AI
Tuesday, August 25, 2009 6:35:53 PM
INTC CHART:
Another great find here. Tech seems to be the only sector that really wants to show leadership. The chart shows many positives that draw my attention.
First we see the tight bollies. This is always a recipe for extreme movements. Next I like how the major indicators are showing real bullish tendencies at the moment. Lastly which should always be first on our list is the current PPS.
We see a break out to the upside of a falling wedge. This is another bullish sign. I have also this great belief that if MSFT will be making real gains then INTC should also follow. DELL might also be a partner in this trio of upside musketeers. I think it all stems from MSFT finally getting an operating system out there that can put the VISTA failure behind us.
Now with all that said, INTC just broke $19 today. $21 seems like a real sure thing but when trading INTC there is no such animal. If you look at the weekly chart you can clearly see that the PPS action moved from around $15 to about $16.50-$17.00 from March to July. The rest of the market was running like wildfire and INTC was stuck in the mud. The very $2 move you are looking for may have already happened.
So I guess what I am saying is that I would indeed put a $21 target on INTC but I am not not sure if the Oct contracts will pay us the type of returns we want to see. Just a hunch on my part. Here's the daily chart.
Another great find here. Tech seems to be the only sector that really wants to show leadership. The chart shows many positives that draw my attention.
First we see the tight bollies. This is always a recipe for extreme movements. Next I like how the major indicators are showing real bullish tendencies at the moment. Lastly which should always be first on our list is the current PPS.
We see a break out to the upside of a falling wedge. This is another bullish sign. I have also this great belief that if MSFT will be making real gains then INTC should also follow. DELL might also be a partner in this trio of upside musketeers. I think it all stems from MSFT finally getting an operating system out there that can put the VISTA failure behind us.
Now with all that said, INTC just broke $19 today. $21 seems like a real sure thing but when trading INTC there is no such animal. If you look at the weekly chart you can clearly see that the PPS action moved from around $15 to about $16.50-$17.00 from March to July. The rest of the market was running like wildfire and INTC was stuck in the mud. The very $2 move you are looking for may have already happened.
So I guess what I am saying is that I would indeed put a $21 target on INTC but I am not not sure if the Oct contracts will pay us the type of returns we want to see. Just a hunch on my part. Here's the daily chart.
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
