With US equities seeing significant weakness, Intel (INTC) was on the slide, settling -1.3% @ $29.51 (intra low $29.15). Near term outlook is bullish, with first upside to the price gap zone of 31.50/32.00. There remains broader downside to the 26/25s by early October.
*closing daily candle... hollow red reversal candle, bodes in favour to the equity bulls into next week.
The key $29 threshold is holding. A sig' bounce seems due into August... but from there.. things look set to turn more severely to the downside.
*I am long INTC from $29.40.. seeking to trade in/out.. until the 32s. Will seek to be short INTC from the 32/33s in August.. seeking to hold short across Sept'.