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Strategies & Market Trends : Tech Stock Options -- Ignore unavailable to you. Want to Upgrade?

To: S. M. SAIFEE who wrote (29834)	12/2/1997 7:53:00 AM
From: donald sew	Read Replies (1) \| Respond to of 58727

S.m.Saifee, You are correct that the INTC chart is a HEAD AND SHOULDER. The right shoulder becomes a critical base for either further decline or upward swing. Many believe that the when you get to the RIGHT SHOULDER it will go down further. My position is that it is a plateau whereby it can go either way. Just on chart reading, look carefully at the RIGHT SHOULDER area and you will notice the the the lows are getting higher and the highs are getting higher, by small amounts. If within the near future INTC breaks the 82 resistance line to the upside (now at 81.75) it will be another higher high. So far the indication from the RIGHT SHOULDER is indicating that it is going up. Please keep in mind that such is only one technical indicator, and I have always had the strong position to never use one indicator in determining direction. Per my short-term technicals, INTC is just slightly in the upper middle range and has sufficient upside room to approach and test the 85 resistance line during this short-term cycle (1-5 days). good trading