Thursday, 22 October 2015

INTC - soaring toward key resistance

With the main market closing significantly higher, there was particular strength in Intel (INTC), settling +3.0% @ $34.38. Next resistance are the $35s from late May. A few daily closes in the $35s would bode very bullish for INTC.. and the broader market into next year.

INTC, daily

INTC, weekly


Suffice to note.. INTC continues to soar.. and it looks like it will see a break above what proved to be key resistance this summer.

A monthly close >$35 looks more viable for November.. but regardless of whether Oct, Nov.. or even a little later.. the current price action in INTC is a very bullish sign for the broader US equity market.