Intel Looks to Break Out
by Sam Collins 03/13/09
Intel Corp. (INTC) -- This large-cap growth stock and manufacturer of semiconductor chips entered a bear market in September 2000 when it was more than $75 per share. It bottomed out below $17 early in 2006.
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From July 2006 to December 2007, it recovered to more than $28 before succumbing to selling, which eventually drove it $12.
This traditional technology growth stock appears to have formed a solid base at $12 but to break from the base, it must close above the downtrend and Thursday's high of $14.60.
If it breaks out, the initial target is $18 but the trend will have changed to intermediate up, which could attract more long-term buying.
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Sam Collins is a registered, fee-based portfolio manager who may be contacted samailc@cox.net. You can also check out an archive of some of his most recent market outlooks by clicking here.
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