INTC - reasonable earnings

With the US market closing higher for a second day, there was notable strength in Intel (INTC), as earnings came in 'reasonable', settling +4.3% @ $32.84 (intra high 32.99) With the break above declining trend/resistance, there is probable upside to at least $35.. if not the low $40s by June/July.


INTC, daily

INTC, monthly

Summary

*I was long INTC from Monday, into early Wed'.. and have exited. It was a pure earnings trade..hence the exit.. despite my mid/long term bullish outlook.
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Looking at the giant monthly cycle, INTC saw a key breakout last summer.. when it held above $25... a key level that has spanned across two decades.

There looks to be near term upside to at least $35, but quite possibly the low $40s.

If the market just keeps climbing into year end.. with Nasdaq comp in the 6000s, then INTC in the 45/50 zone would be a very valid target.