Shares of Intel Corp (NASDAQ: INTC) Hold at Support Says Market Timer Frank Kollar

June 25, 2008 (FinancialWire) (By Frank Kollar)

Shares of Intel Corp (NASDAQ: INTC) declined from their January-May rally highs over the past month, and appear to have found support at the 50% retracement level, around $21.69 a share. Intel has remained above $22.00 a share since June 11.

With Tuesday’s June 24 closing price at $22.41 that support is only just below current levels. Traders should be watching for a reversal day here to establish a long position. Or a bullish position could be taken using a sell stop just below support.

A close below $21.69 would likely result in further losses, to at least $20.84 a share, the Fib 61.8% retracement level.

The Fibtimer.com (http://www.fibtimer.com) Stock Timing Strategy holds 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.