11/04/99 Intel Corp (INTC)
Points to watch:
Intel has put on an impressive display
over the past two weeks since testing, and holding its 200 day moving
average on October 19th. The stock closed yesterday at a 6-week old
resistance level at 79.75, a level that stopped a rally attempt on
September 27th, and also acted as resistance in August. Intraday the
stock hit a high of 80.68, just below the 62% retracement level at 80.75
(the 62% retrace of its September-October decline).
Technical indicators are solid: RSI is
rising strongly and showed positive divergence at the October low, MACD
has moved up to the 0 line, OBV, and stochastics are rising.
A buy signal would be given on a break
above yesterday's intraday high, with a first target the resistance at
84.75-85.5.
