Intel

Intel, INTC, is showing some interesting movement. They bounced off the bottom of their channel back in November and look to be heading back down ever since a week ago. The weekly chart below shows what I'm talking about.

www.Freestockcharts.com

The chart shows the channel which began in January 2009. Looks like a double bottom preceded it. Before the current bull channel there was a downtrend from 2004 or so, no channel on that though. Some things to consider are the lows at 12.10, that will act as a floor if the current channel breaks to the downside, the current high 29.30 will act as upside resistance.

The river moving average, the yellow MAs, is more important short term than the old highs. You can see a failure to breech on that candle that hit 23.10. They'll probably move back down to their channel bottom before trying to rebound. There's probably a good entry point around 20.00 but it could always break downward. If INTC can break their 34 and 100 MAs it would probably be a more compelling buy.

One thing to note is that the channel they're in right now probably isn't the best example of a channel. They seem to favor the middle/top instead of filling the whole thing. Its old enough that I think its fairly strong but the recent break to the bottom could be signs of cracking.

Some potential trades, note that entries and stop-losses are by closing price and that these trades are being described from the weekly chart. These are long ideas, I won't cover any short ideas.

Entry1: 20.00
TP: 22.15
SL: 19.40

Entry2: 23.75
TP: 28.50
SL: 22.00

Do your own research before taking any position. I do not currently own any INTC and do not plan on buying any within the next 72 hours.