Friday 1 June 2012

INTC - in a very clear down trend

Intel (INTC) is in a very clear downtrend - after what was also a very clear up trend. It is a superb reflection of the broader equity market (and is a member of the Dow'30).


INTC, daily


Summary

First target is 23/22 - assuming low sp'1200s - sometime in June. The bigger monthly charts suggest sp'1100 of course, and that probably equates to INTC somewhere in the 20/19 range. I can't imagine Intel breaking into the mid teens...baring sp<1000.

Intel is without question a great company, and at $20, would be offering a yield of around 4/5%. Somewhat better than the US 10 year piece of worthless dirty paper/bond.