INTC: Set To Soar – PART 2

My Positions

I’m still holding good amount of positions as you can see my accumulations below.  I am very bullish on Intel (INTC) for long term (see part 1), and with recent MobileEye (MBLY) purchase by Intel, I personally think that makes Intel much stronger company in a long term.  But in the minor term though, that acquisition did rattled some investors as the stock declined over -3%  since then.  I do think we might be seeing dip-buyers coming in here in the next few weeks who understands the value.  Let’s take a look at the weekly-chart below and see where the overall trend is moving.

• 11/04/2016: Entered Calls (LEAPS) @ 33.88
• 1/24/2017: Closed 30% of the Calls @ 37.60
• 2/09/2017: Added Calls (LEAPS) @ 35.51
• 3/15/2017: Bought Shares (Long-Term Hold) @ 35.05

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Weekly-Chart

This is Intel weekly-chart since late-2012 through today.  First, if you pay attention to “Weekly 50EMA” moving average, you can see that it was a crucial moving average all through 2014.  In the mid-2014, when the stock finally broke out and retested old-resistance (see red circle) as new-support above the rising “Weekly 50EMA,” it took off, fast, to the upside until it topped in early-2015 at 38ish.  Ever since early-2015, Intel has been ‘shaking-and-baking‘, mostly due to the shaky market conditions in 2015-2016.

Well, today, just like early-2014, we are, once again, retesting “Weekly 50EMA” (see arrows on the right side of the chart) as the stock is retesting the pivot level of 35ish (red box).  I believe, if we can able to find a bounce from here, it hits $38 pretty quickly, and then 40, 42, 44.   Let’s see how it plays out.

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