Intel Corporation (NASDAQ: INTC) has not
been performing so well the past 5 months or so. Following a sizable downside
gap, the stock entered into a down trend. This down trend has gone on
for quite some time. Yesterday, INTC made a positive move back to the down
trend line. This upside move occurred in a down market...although it should be
noted that the semiconductor sector outperformed yesterday. Does INTC have what
it takes to break out of this down trend, or will the trend continue?
We are waiting for a sign as to what INTC is going to do. INTC may continue its down trend,
but there are a few uncertainties that alarm us. First of all, INTC broke out
of the down trend line for the first time since
it began on April 20. This is not extremely signifigant considering the stock
pulled back and closed right on the line at the end of the trading session. We
also have to consider the high volume buying interest as of late. These two concerns are reason enough to avoid an entry at this point
and watch the stocks actions today.
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