March 13, 2007
Shares of Intel Corporation (NASDAQ: INTC) sold off almost 15% from their January 2007 highs, reaching strong Fib support at $19.00 a share, the 61.8% retracement level, in early March.
After testing this level several times over the past six trading days, with a low around $19.00 and a high at $19.37, Intel rallied on Monday and broke above the upper level, closing near its highs. This sets up an excellent long trade, using a close below $19.00 as a sell stop.
The Fibtimer.com (http://www.fibtimer.com) Stock Timing Strategy has a position in Intel.
