>> Thoughts on whether we hold at the 50 day or pass on thru to the other side of 23?
My observation is that it takes a week or so for a stock to stablize from a sudden sharp drop caused by hard news. And from there several weeks until it starts to recover. CSCO is a good example that is very similar to INTC. I think a total drop of 10% (from $25.30) is warranted. So it bottoms around $23, and waits there for salvation, in a sort of purgatory for stocks.
Thoughts on whether we hold at the 50 day or pass on thru to the other side of 23?
.....no TA from me.....but with every metric FLAT for 2014......including NO CHANCE for a dividend hike, the stock should drift down to below $23........if the FEDs try to taper and if the mid east blows up............maybe down to $20.
50 DMA survived first test today. In addition to all the moving average support down in the 22-23s there is also strong fixed support backing it up. It will take a lot of bad news to move this stock below 22.
CURRENT PRICE 23.75, just below support, 24.04 ± 0.24, type Triple+, strength 10
RESISTANCE ABOVE +1.2% at 24.04 ± 0.24, type Triple+, strength 10 +3% at 24.47 ± 0.24, type Triple+, strength 10 +5.6% at 25.09 ± 0.25, type Double, strength 10
SUPPORT BELOW -2% at 23.27 ± 0.23, type Triple, strength 10 -4.4% at 22.71 ± 0.23, type Triple+, strength 10 -6.9% at 22.12 ± 0.22, type Single, strength 1