INTC Breakdown
By Johns Wu on May 22, 2006
INTC has been getting sold-off for months now.
INTC has broken down and made new recent lows. There are also other bearish signals on INTC, including shooting-star candles and failures at the 200DMA. Considering this weak market, and weak $SOX index (which failed at the 200DMA today), it could be a good short candidate.
3 Responses to “INTC Breakdown”
shooting star candles are ones with a very long upper wick. they usually signal eager sellers who are trying to unload the stock
1. Intel is so cheap it is not funny.
2.I’m sick of how little value the typical wall street analyst adds — why are they always downgrading AFTER the bad news?
3. I believe INTC will be bottoming out soon enough — if AMD convinces DELL to use its cheaper chips in its notebooks, Intel could fall to $15, though.
4. Dell had no choice but to go to AMD: AMD’s chips are cheaper (helps DELL’s op margin and bottom line story) and “highly visible” in the tech marketplace: geeks love ‘em (helps Dell boost sales).
I should have shorted INTC and gone long AMD months ago when I went to Circuit City and the sales associate there said “Intel. done. AMD. everyone wants AMD. AMD is better.”
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