INTC - Broadening Formation - Breakout to $70?

0. Notes to follow;

Kommentera:

1. Intel (INTC) currently at the top of the channel, and a broadening formation may see a breakout from $63.95.

2. Looking for a close over $65, and momentum to push to $69.75.

3. Many Semiconductor stocks are currently demonstrating these formations, that appear to be a breakout / breakdown scenario.

4. Looking for re-test at $63.95, after a move to $65 and this would be a textbook breakout. Not sure if INTC has any gas left in the tank for this move, but a break above the channel may see some movement.

Kommentera:

5. If Intel Collapses, looking to add to our $55 position at $57.50

Kommentera:

6. $57.50 corresponds to the bottom of the channel;