Bottom May Be Near For Intel Corporation Says Market Timer Frank Kollar.
May 11, 2006 (FinancialWire) (By Frank Kollar)
Shares of Intel Corporation (NASDAQ: INTC) have been in a steep decline since July 2005. Trying to catch the bottom has been like trying to catch a falling knife.
But after losing 31.8%, a bottom appears to finally be near, though at lower prices than Wednesday’s close of $19.58. If share prices continue lower, Intel will reach a major support level that is unlikely to be broken easily. $18.05 a share is both a long and short-term support level. There is a high probability of a reversal at or near that level, assuming it is reached.
Should Intel close below $18.00 we would expect it to make a run for its 2002 lows at $15 a share. At Fibtimer.com (http://www.fibtimer.com) Intel continues to be a SELL.
Kollar’s research has shown that the financial markets are in tradable trends approximately 80 percent of the time. FibTimer strategies define trends and trade them in both advancing and declining markets. Caring nothing about what newscasters say or what the latest economic indicator predicts, trends are where the profits are, and that is where FibTimer is.
Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com) which offers market timing strategies for S&P and Nasdaq index fund traders, as well as bond, gold, small cap, sector, ETF and stock trading strategies.
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