LONG TERM
I remember the monthly chart (click here to see the chart–from the PART 3) I charted when it was just trading at mid 30s just about 10 months ago–this chart was showing the uptrend development when the stock was preparing to break out of the 17-year base. You see, with little bit of patience, INTC is now trading at 55s in less than a year. It has broken out of the 17-year base in October of 2017, and it never looked back since then. My ultimate target on INTC is still well-above the all-time high, and it looks like it is making a good progress so far.
2000 – Present (Monthly)
UPTREND
This is important level that the bulls have protected (see arrows) when the ‘shenanigan‘ happened back in the February of this year. so that the uptrend could be alive and thrive. Higher highs and higher lows is what you want to see in the long-term uptrend to be valid and healthy. Looking at things in the long term, I would have to say that the trend is well and healthy and valid.
2015 – Present (Weekly)
RISING WEDGE
Things get hectic when we zoom in here as you can see the rising wedge formation. This formation (rising wedge) is actually categorized as a ‘bearish reversal’ pattern (I have no idea who are the people making the rules), but I have to say it’s actually NOT bearish when you are dealing with a strong uptrend like we are seeing in this stock. This does not mean it is not going to break to the downside, this means, even if it breaks to the downside there is a good chance it will find support and continue higher (thus cultivating another intermediate-term higher low).
If it breaks down, I am looking for 50-49ish level as strong support; but if it breaks higher, we may continue to 60 and 65s. Keep in mind, these consolidation patterns such as rising wedge always gets tricky with so many head fakes. So, trying to time the breakout/breakdown could be a very difficult proposition–this is the main reason of why I haven’t added any new position on it since my last entry at 48.70 (1/26/2018)).
November 2017 – Present (Daily)
HOLDING STATUS
As of today, I am holding all of my SHARES (I haven’t played any CALLS on it since I’ve closed all of them out back in November 2017–from PART 5)
PART 1, 2, 3, 4, 5, 6
