PeakTrader.com

[arthur]

INTC (both a Dow and Nasdaq 100 stock) had a tough year in 2004. The 10 day MA is still above the 20 day MA, which is bullish. The gap at over 25 hasn't been closed (although, it rallied to 24.99 twice after creating the gap). The bullish cup-and-handle pattern is still intact if it can hold 22.35. INTC may be in position to rally big perhaps on earnings Tue. The oversold oscillator (ULT) also suggests a big bounce. There is little risk at it's current price, since just below 22 1/2 was tested four times recently. Consequently, INTC may be bought at its current price with a stop at 22 or the downtrend line at 21 1/4. I believe, INTC will close the gap at over 25 within the next few months.