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Intel Pointing the Way for Chip Stocks

The daily chart for INTC shows declining momentum (12x3x3 daily slow stochastic) with the stock ending Wednesday between its 21-day and 50-day simple moving averages at $26.17 and $26.27 and above its 200-day simple moving average at $25.90. My semiannual value level is $21.14 with a weekly pivot at $26.12 and quarterly risky level at $27.12.

If you bought the stock last Friday at $24.95 on a "buy and trade" strategy, set your GTC Limit Order to book an 8.7% gain on strength to my quarterly risky level at $27.12.

Courtesy of Thomson / Reuters

At the time of publication, the author held no positions in any of the stocks mentioned.

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.

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