Wednesday, 27 May 2015

INTC - battling to hold above the 200dma

With the main market seeing borderline sig' gains, there was notable strength in Intel (INTC), which settled +1.9% @ $33.73. There will be strong resistance around the $35.00 threshold. Regardless of any weakness this summer/autumn, the longer term outlook is extremely bullish into the $50s.

INTC, daily

INTC, monthly


*the first decisive daily close above the 200dma since early March

Suffice to add, regardless of any main market weakness this summer/autumn, the long term outlook for INTC looks absolutely bullish... set to challenge the historic high of $55.45 (Aug'2000).

Such a level is clearly going to take at least another 12-18 mths to reach, and that is assuming the broader market can accelerate as the US fed raises rates.

A monthly close under the old breakout level of $25 looks unlikely for... years.

*INTC is one of my top 3 tech stocks... and also of the Dow.