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| 4/14/99 Intel Corp (INTC)
Points to watch: Intel fell 3 points in after
hours trading yesterday and will likely test important support today. This week the
stock has fallen below both its 21 day (60.99) and 55 day (62.41) moving averages after
its March-April rally was stopped at the 62% retracement of its January-March decline.
Important support exists from 55-57: the 55 level acted as support in both
early December and early March, 55.88 is the 25% retracement of the 9/94-1/99 rally, and
57 is the 38% retracement of the 6/98-1/99 move. Technical indicators remain
negative: weekly MACD gave a sell signal on 2/19 and weekly ADX has fallen below 40.
Daily OBV and %R are also negative. Be ready to sell if the stock fails to
hold support in the coming days.
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