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Wednesday, April 14, 2010

Intel pushed hard

Cramer was pushing Intel hard today, and I can't blame him. The sector/economic winds are at its back, and I do not doubt the potential move. So I reviewed its charts in more detail. A review of the daily chart is quite clearly overbought, and in the presence of a very powerful up move, which typically make me nervous for an initial position. But the review of the monthly long-term chart of INTC calmed me down a bit from Cramer's huge endorsement.



The monthly shows a resistance.

After a relative consolidation, INTC should charge upward. So if anyone is interested in INTC, I would wait for a consolidation in the daily. And once 25 is breached upward, hold on for the ride.

But, if anyone wants to ride a stock right now, a look at IBM's long-term chart strongly suggests its ready to make new ground.

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