Intel Corporation (INTC) Message Board

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Technology Stocks : Intel Corporation (INTC)

INTC 36.78

+2.7%

Nov 26 3:59 PM EST

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To: Paul Fiondella who wrote (43968)	1/5/1998 4:06:00 PM
From: Jon Tara	Read Replies (2) of 186894

"the stock keeps meeting resistance as it approaches 75" Not sure what chart you are looking at. "keeps meeting resistance" implies multiple attempts. INTC touched or came close to 75 twice today, intraday. This, to me, proves nothing about resistance. I do agree, however, that based on the recent historical prices, we can expect some resistance around 75. Conversely, I expect that resistance to become support once surmounted. INTC is short-term overbought right now, and it is probably unrealistic to expect it to break through immediately. By "short-term" I DO mean SHORT term (I use a proprietary indicator that I apply to 1-hour bars) - next day or two. Using more traditional overbought/oversold indicators, INTC is still far from over-bought.

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