John; RE:" entry points for INTC "
well, thanks kudos, JohnDude - but I am just trying to keep up with Jurgen, Dolinar, Tommy, Berney, Chris... and YOU! (^_^)
BTW, MRK - Merck bellwether downgrade/drop today has helped to form a pretty evening star on DRG.X - Pharma Sector Index.
>Entry points for INTC..?
(1) mind the gap @ ~100, as the London underground would say.
(2) looking at the SOX.X - Semiconductor Sector Index, one (simplistic) accumulation strategy along strike boundaries would be:
1x109~111
2x99~101
3x94~96
4x89~91
...and we could get fancy and sell PUTs to acquire stock.
(3) Finally the magic lines (what you probably wanted to know) on my INTC chart are as follows...
FIBONACCI :
as measured from 31-AUG / 01-SEP LOW @ 71-1/4 to 08-DEC HIGH @ 120
109 / 101.5 / 96 / 83
INTERMEDIATE-TERM UPTREND :
as drawn from close 31-AUG 71-1/4 to close 08-OCT 78-1/2
look like 90~95 area; roughly equivalent to 200d EMA and horizontal support line at ~90.
SHORT-TERM UPTRENDS :
as drawn from low & close 08-OCT to close 03-NOV and beyond (2 lines)
looks like 109~116 distribution area; slope of most bullish short-term UpTrend is roughly equivalent to 14d EMA, indicating buyers at ~115. Slope of the other short-term UpTrend is roughly equivalent to 50d EMA, (which is at present around gap at ~100) indicating buyers just under 110 strike; mind that damn gap at ~100, though.
CANDLESTICKS :
on DAILY chart -- Doji Evening Star was confirmed yesterday.
on WEEKLY chart -- Shooting Star forming with likely close for the week at or below ~116 (using yesterday's chart to read these)
on MONTHLY chart -- UpTrend intact; very over-bought STOCH.
...so what's your / other Dude's reads on INTC ?
-Steve |
