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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (36376)	3/7/2002 12:57:03 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 69866

-------------------------------------------------------------------------------- Quick Takes: Intel [INTC:Nasdaq] $33.49 -- 10:00 AM EST by \IDEAglobal Staff Intel is being kept in the spotlight as it prepares for a mid-quarter update on its Q1 after the bell on Thursday. Current expectations for the world's largest chipmaker are EPS of $0.14 on sales of $6.7bn, comparing to company expectations for sales of $6.4bn-$6.7bn. In Q4's mid-quarter update, Intel chose to significantly narrow the range of its own sales expectation, so this time we could see the same. Of course, the market probably won't be happy unless the forecast is narrowed to the top of the range, and not simply the middle. Wall Street will also be looking for guidance on gross margins (forecast at 50% by the company), and some indications of demand for Intel's premier microprocessor, the Pentium 4. There was talk some weeks ago about a fall-off in demand, so signs of "normal seasonal patterns" might put some fears to rest. Technical: After breaking below key support in the $32 area, and testing the $28 area support, the stock has bounced back above the prior support/new initial resistance level but now faces resistance around $34. Risk Tolerance*** (Low risk, ****High risk)