The overall market has been pulling back and is currently in an obvious short term down trend.

Despite of that, tech stocks have been one of the main sectors which is still showing some strength.

 

 

I know it's not wise to get LONG in a time like this,especially when the market is in a selling mode, but INTC really does show some prospect here.



INTC (Intel) has been experiencing a few times of hard push with above average volume, trying to break the ascending triangle.

The recent push finally managed to break out the resistance above $16.50, and stayed there.

If it manages to stay above that level on Monday, I might consider taking a LONG position in this one, setting a stop lost at around $15.60.

[ watchlist ]

 

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