To: Pullin-GS who wrote (62638 ) 10/11/1998 2:57:00 PM From: Pullin-GS Read Replies (2) | Respond to
Some TA for Friday close:Bollinger Bands ....could this be a breakout indication for higher highs to come? Hard to say given the current market uncertainties at hand. But if stability can be had for next week it looks like INTC may see a few more points on the upside. BB currently has support marked at 75 even, and upper resistance 91 5/8. INTC is currently trading at weak (very weak) resistance, and a push above 84 could easily see high 87 levels again in the next few days. Current support is pegged at 87 1/2, and goes back about 3 months as a strong level of resistance that needs to be contended with. Overhead to 88 levels is 162MM shares. Given that the year is winding down (tax loss selling, global market concerns, etc.) I don't expect we will be seeing recent highs above 92 in the near future. FTR I cashed out my entire position before the close at 83 11/16. I find myself taking cash home vs waiting for another painful market correction ever other day. I will re-enter if the market conditions permit it on monday for another point or so of upside (as a daytrade). Otherwise I will sit on the sidelines and put a target re-entry of 78 (again, very much dependent on market sentiments at that time). Kinda-Bullish.21-Volume-EMA . It appears that the bears have lost interest in the near term. Dead-cat bounce? I really cant say with certainty, so I took the conservative route and bailed (given that Monday is a holiday trading day). It is a bullish sign non-the-less, so hopefully Monday will bring continued buying. MACD Histogram was trending way below 0 all of last week, trending downward until Friday, where it closed higher. Possible reversal signal here worth a few points on the upside.Smoothed Rate of Change (SRoC) had a bullish divergence on Friday.Bostian's Accumulation/Distribution had a bullish crossover on Thursday....the uptrend was confirmed with Friday's action. RSI is trending upward, but still is weak.
