INTEL FOR TECHNICIANS Message Board

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Technology Stocks : INTEL FOR TECHNICIANS

INTC 41.50

+5.0%

Oct 28 3:59 PM EDT

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To: saul mikaliukas who wrote (1488)	7/19/1997 3:25:00 PM
From: J. Kerner	of 1513

Saul, The weekly chart shows a wonderful bullish formation with a breakout on heavy volume. If you look at the daily chart you see that Intel spent most of its time at the LOW end of its trading range, not its high end. It was only at its highs for a brief period before dropping. Are you saying distribution happened in one day? If you recall, Intel plummeted on earnings warnings and then spent most of its time in the 130-145 range before moving up recently. The bears should have been able to break support but they couldn't. The breakout confirmed that this was a basing pattern and the bull market in Intel continues. A technical analyst shouldn't worry about valuation, but if you must look at Intel's PE ratio it's very reasonable and current stock price is hardly rediculous.

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