Intel Corp (NASDAQ: INTC) Breaks Out Says Market Timer Frank Kollar
July 2, 2009 (FinancialWire) (By Frank Kollar)
Shares of Intel Corp (NASDAQ: INTC) have broken out above the $16.75 level which has held prices in check since April, 2009.
How high can Intel go in this run?
Wednesday’ breakout will continue to initial resistance at $18.42 in coming days. If Intel can make a decisive close above $18.42 the run can easily reach $19.91, some 17% higher than current levels.
The Fibtimer.com (http://www.fibtimer.com) Stock Timing Strategy holds a position in Intel Corp.
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.
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