RSI new higher high and MACD crossing up, filled gap into earnings. 93 cent move in the October Straddle, Oct/Nov 23 Call Cal only 16c...... (long term holding currently collared)
Technically Intel looks really attractive here
Macd crossover
RSI oversold
Fits with fibonacci lines
Trendline support
The only thing to have in mind is the earnings report on the 16. of october
Otherwise very good setup
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Entry 21.65
I would normally then wait for the 20EMA to catch up and watch INTC crossover the 20EMA and then ride it up.
The problem is we don't have time for that to happen prior to earnings. (10/16/2012)
I do not hold into earnings.
Therefore I will be looking to take profits this week.
Intel is not doing good... It's in a strong bearish trend and last couple of attempts to break out of EMA 9 have failed.
Latest bear trend bar at EMA is a good signal to get into the trade hoping for the trend to continue (and weekly and monthly charts are not showing any signs of the bear trend stopping either).
Stop loss is good at 23.2, target is 21.6, entry...
Buy Area - $22.50 - $23.30
Target Area - Around $24 (First Fibonacci retracement level)
Stop Limit - Below $22
Reasons to buy:
- Daily stochastics are oversold
- Within a channel and bottom of channel would be around entry area
- Previous lows are around entry area from December
- If you were to count June - September as a giant bear flag the meassured move down...
INTC bullish MACD divergence. It appears that $23.20ish is forming as new support. Stock indicate oversold conditions.
Wait for price to settle and MACD line cross-over, Stoch > 25 will confirm bullish posture and downtrend reversal.
Don't forget, INTC earnings are 16-Oct, a month from now.
INTC RECENTLY GUIDED LOWER CAUSING SELL-OFF WITH WEAKNESS IN PC MARKET.
KEYS TO WATCH:
1) SEE IF INTC TESTS THE LOWER TREND AND CAN HOLD IT. TEST DOWN TO 21.70 IS STILL HOLDING
2) SUGGEST COVER SHORT AT TREND LINE TEST
3) IF YOU SEE A FURTHER BREAKDOWN TOWARD 19.50 LEVEL RESUME SHORT.
The price broke below the 25 support and was unable to push back through it. With 25 now serving as resistance, I'm looking for the Stochastic to embed before committing to a large position.
Target: $23
many Indicators shows strength in Trend.Stoch (plz see Fig)breaks their up boundary while the price did not(Price confirmation). Point 26 is very important for Intc,once it succeed to break this resistance and most of all settle down up 26,i think INTC will test 26.85.GL
Stock broke its up trend line a few days back , and also broke support around 26.15. Stock might go up, and trade perhaps between 26.10 and 27. But overall direction is down.
In regard to the price predictability there is interesting cycle in INTC price over last 3 years. During 2010 and 2011 bullish markets Intel has touched its bottom in September both years. The evidence that INTC registers its price peak during the spring is clear – 2010 ceiling has been registered in April, the 2011 one – in May. Cycle length is approximately 240...
Here is a longer-term view of INTC and the accumulation pattern that it has been in. The lows are higher and the highs are higher, which is a simple way to say the trend is up for INTC. Recent weaker than expected announcements from the company have softened the price of INTC shares, but they still have room to fall to reach the "value buyers" which have been...
