Intel's (NASDAQ: INTC) Big Bounce Says Market Timer Frank Kollar
April 12, 2007
Shares of Intel Corporation (NASDAQ: INTC), after making a correction low just below $19.00 in late march 2007, has made a huge and fast recovery in the past few days. Are higher highs ahead?
Monday's gap open rally, followed by another just as strong Tuesday rally, appears to be the beginning of a new up trend for Intel. Tuesday’s close above $20.52, the 50% retracement of Intel’s entire 2007 correction, forecasts that Intel will at least reach $20.94.
We would expect higher highs than that though and are looking at the $21.50 level to finally slow down Intel’s upward progress. That will be the critical test that, if surpassed, will forecast a run for new highs.
The Fibtimer.com (http://www.fibtimer.com) Stock Timing Strategy currently has a position in Intel Corp.
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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