Last Update: 10/25/2017
Consolidation Breakout
This September move was a crucial move for Intel (INTC) to finally breakout of this “14-Month Consolidation!” This is a very good sign for the health of this stock for the long term; and I believe, finally, the stock is ready to establish primary-term uptrend and start to really make it’s move. Out of all of the Chip sector stocks, Intel (INTC) has been one of most lagging stocks disappointing investors, but the patient investors are starting to reap the benefit while the others may trying to jump back in. In the short-term, we are overbought so we may see a pullback or consolidation–if so, let’s see if we can hold the breakout level at 38ish.
Daily Chart
New High
For nearly three years, Intel (INTC) was not able to break above this 38ish price-level until today. This truly is a breakout, as long as, if we can stay above 36-37ish if the price pullback sharply–but I am leaning towards the scenario where we could continue to move higher looking at the weekly chart. On the weekly, we are not at all overbought (unlike the daily-chart above), so I believe, in the intermediate term, we may see more accumulation finishing the year strong.
I have CALLS that are expiring in January, so I am planning on unloading them once it reaches my price target of $41 – $43ish; also, ER is on the 26th of this month, so I may close 1/2 before the ER and hold remaining 1/2 through it. I also own sizable SHARES which I will be holding for at least another year or two before unloading them.
- At 33.38: Entered Calls (LEAPS) on 11/4/16
- At 37.60: Closed 1/3 Calls (LEAPS) on 1/24/17
- At 35.51: Added Calls (LEAPS) on 2/9/17
- At 35.05: Bought SHARES on 3/15/17
- At 36.21: Bought More SHARES on 4/28/17
Weekly Chart
10/25/2017 Update
Positions Status
I’ve been exiting my CALL-POSITIONS last few weeks on strength as the stock reaches near to my target at “$41 – $43ish,” which I’ve talked about on this post. So now, I will be holding marginal-remainder CALLS and full SHARES position going into the Earnings tomorrow night. It took a while for this setup to play out, but I am glad that I was able to unload my JAN CALLS with gain before the ER. Let’s see how they do on the numbers tomorrow.
PART: 1, 2, 3
