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Politics : Idea Of The Day
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To: IQBAL LATIF who wrote (27420)7/14/1999 5:42:00 AM
From: IQBAL LATIF  Read Replies (1) of 50167
 
''Keep an eye on shares of Intel, which had a very good run-up of late and closed above its downtrend. Now, the stock is in the midst of testing resistance at around $65. Technical indicators are overbought and some profit taking cannot be ruled out. On any pullback, look for support at $60.''

''Intel reported EPS of 51 cents, 2 cents shy of consensus
estimate of 53 cents. While overall numbers (revenue, gross margin,EPS)
all came below current estimates, company said that results during the
second half is expected to be much better with gross margin rising to60%
from previous forecast of 57%. Shares rebound better than a point inafter
hours trading. This could have an impact on tech stocks in general. Asfor
NASDAQ, today's pullback was much needed enabling the index to relieve
some of its overbought situation. However, further consolidation isneeded
for any sustained rally from these levels.''
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