INTC on the move – updated

An update to $INTC is below.  Gameplan is working thus far….it came back and tagged the neckline and off it went.  Now, expect the low 40’s to be resistance and for another pullback to occur.  BUY this pullback.

Main20141228101546

Main20141228102044

 



 

CLIFF NOTES: INTC is on the move breaking thru and CLOSING (KEY) at the high end of the range, above a 9 year resistance line and now testing the higher end of the bearish resistance zone on the RSI.  The base it has moved up from has carved out an inverse head and shoulders in addition to basing for 10+ years.  Watch this stock for leadership.

GAMEPLAN is, however hard it is, to let this move go and then look to buy the “outside return” against the neckline around 28.  Initial targets are shown …

INTC WEEKLY

INTC WEEKLY

Now, we need to ask ourselves, how is the stock doing against the NASDAQ?  This is where we go to our ratio analysis and look at the picture below … banged right off the .786 retracement level and perhaps this is a rotational play by the institutions.  What a nice picture …

ratio analysis of INTC / NASDAQ

ratio analysis of INTC / NASDAQ

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: