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Non-Tech : Kirk's Market Thoughts
COHR 191.69+0.2%3:59 PM EST
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To: Sun Tzu who wrote (18099)2/28/2024 9:37:37 AM
From: Kirk ©1 Recommendation

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Sun Tzu

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Good call on INTC. I just missed taking profits by less than $1 so you nailed it if you sold.
Back in January, on twitter I predicted that INTC will hit 41ish and pause. Then if the support caves in, it will go to mid 30s. That was a 30% decline then. It hit 41.60. You want to make sure that holds before you buy. Or you can buy and put a stop with a 41 handle. The chart is ambiguous with a negative bias.
Any time you get a double in such a short time, huge pullbacks are to be expected. Here is an interesting blue support/resistance line showing why here is critical in the long-term.

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