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: Jon Tara who wrote (44078)	1/6/1998 5:01:00 AM
From: Arik T.G.	Read Replies (1) of 186894

Jon, My T.A. for INTC shows $75 to be a good selling opportunity. 1. Head and shoulders formation - Left shoulder formed May-June, head formed Aug-Oct, right shoulder Nov-Dec. Slightly rising neckline was broken early Dec. at approx. 75 1/2. The current move is reaction to the broken neckline at approx 76. 2. The wedge formed Aug.-Oct. was broken down on earnings announcement and the stock gapped down and commenced on a down trend. I have found nothing to indicate that this trend has been exhausted or broken. 3. 5 days EMA has stayed under 21 days EMA since it crossed over to the down side (the sell signal) on 9/29/97. 4. The ABC of trends- When local lows are ever lower we're in a down trend. When local highs are ever higher, the trend is up. It could be that your technical indicators are quicker then mine, and you'll be proven right. If so I'll be bullish on INTC not many days from now. ATG

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