Shares of Intel Corp (NASDAQ: INTC) at Support Says Market Timer Frank Kollar
October 15, 2008 (FinancialWire) (By Frank Kollar)
Shares of Intel Corp (NASDAQ: INTC) may have reached a long term bottom at the lows reached three days ago.
With last Friday’s intra-day lows touching $14.26, INTC came very close to strong support levels at $13.88 and $13.68. We would have preferred INTC to reach closer to its 2002 bear market closing low at $13.25, but we may have come close enough to have established a sustainable bottom.
Tuesday’s October 14 close at $15.93 saw INTC shed almost 6.2% over worries about their imminent earnings report. In aftermarket trading, shares were trading higher so this last obstacle appears to have been passed satisfactorily.
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.
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.
Go to previous Press Releases & Trading Notes.
Note: These Press Releases are short term in nature. They may or may not reflect the same position as current subscriber reports which typically have longer time frames.
© Copyright 1996-2008, Kollar Market Analytics, Inc., All Rights Reserved.
FibTimer reports may not be redistributed without permission. These Trading Notes however may be distributed without permission.
Disclaimer: The financial markets are risky. Investing is risky. Past performance
does not guarantee future performance. The foregoing has been prepared solely
for informational purposes and is not a solicitation, or an offer to buy or sell
any security. Opinions are based on historical research and data believed reliable,
but there is no guarantee that future results will be profitable. |
