Intel Corp (NASDAQ: INTC) at Strong Support
Says Market Timer Frank Kollar
August 17, 2010 (FinancialWire) (By Frank Kollar)
Shares of Intel Corp (NASDAQ: INTC) are at a support level
that has held all declines since late November 2009. Intel
Corp is a semiconductor chip maker, which develops advanced
integrated digital technology products, mainly integrated
circuits, for industries such as computing and communications.
This support is being tested now. If it holds we could
see considerably higher highs. A break of this support
though would signal declines that could reach $16.00 in
coming weeks.
The support level is at $19.00 a share. This level has
held during declines in November, 2009, December 2009,
February 2010, July 2010 and finally August 13, 2010.
If we hold here, look for a quick rise to $20.40 a share
with potential highs near $21.00 a share, a 10% gain.
A break of this support could take Intel to the next support
level and that is at the July 2009 lows near $16.00 a share
or a 17% loss.
The Fibtimer.com (http://www.fibtimer.com)
Stock Timing Strategy does not currently hold a position
in Intel.
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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