Intel Corporation (INTC) Message Board

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Technology Stocks : Intel Corporation (INTC)

INTC 37.91

-1.4%

Nov 11 3:59 PM EST

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To: Chip Anderson who wrote (55852)	6/1/1998 11:51:00 AM
From: Chip Anderson	Read Replies (2) of 186894

Anyone else thinking Intel is becoming a good buy at these price levels? I've just updated the Intel stock chart on my site - coolhistory.com Here's what I see happening in this chart: INTC has been in a steep downtrend since May 14th and is now below both it's 50-day and 200-day moving averages. I am very cautious of stocks that are below their 200-day MA. The MACD indicator gave a sell signal on May 18th and has since moved below zero (a mid-term bearish signal). While I'm somewhat skeptical of this indicator, I know that _lots_ of other people watch it closely. The On Balance Volume indicator is well below its 50-day moving average and is in a downtrend. OBV combines a stock's price movements with its volume. I am very cautious of stocks whose OBV is below its 50-day moving average. From a support/resistance perspective, this morning INTC blew through its major support level near 70 thanks to the Merced announcement. Technically, this was a _very_ bearish development. This takes INTC back to the levels it was at in March and April of 1997(!). At that time, INTC received strong support at 65. Will this same thing happen this week? Any javelin catchers out there? Disclosure: I am neither long nor short INTC at this time. FWIW, Chip coolhistory.com

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