Hewlett-Packard (HPQ) ($35.16) set a multiyear intraday high at $35.20 on Friday as the former Dow component continues its turnaround story on the prospect of increased demand for PCs. Weekly and quarterly value levels are $34.03 and $30.97, respectively, with monthly and annual risky levels at $37.91 and $40.20.
Intel ($29.87) gapped higher on Friday on its projections for increased PC demand, as it set a multiyear intraday high at $30.06. Monthly and weekly value levels are 28.06 and $27.10, respectively, with a semiannual pivot at $29.91, tested at Friday's high.
Microsoft ($41.23) set a multiyear intraday high at $41.66 on June 6, and the company is likely seeing demand for Windows 8.1. Weekly and quarterly value levels are $40.91 and $39.45, respectively, with a semiannual pivot at $41.67 and monthly risky level at $43.98.
Oracle (ORCL) ($42.14) is another important stock to watch this week as the company reports quarterly results after the closing bell on Thursday. Analysts expect the company to report earnings per share of 92 cents. Semiannual and annual value levels are $38.85 and $34.92, respectively, with an annual pivot at $42.23 and weekly and monthly risky levels at $43.28 and $46.24, respectively.
SanDisk (SNDK) ($98.47) set an all-time intraday high at $100.81 on June 11. The stock is the biggest year-to-date winner and the biggest winner during the last 12 months. Monthly and semiannual value levels are $94.91 and $79.01, respectively, with a weekly risky level at $102.74.
Texas Instruments (TXN) ($48.33) has weekly and semiannual value levels at $47.65 and $41.08, respectively, with a monthly pivot at $49.08 and semiannual and quarterly risky levels at $49.32 and $50.54, respectively.
Your investment policy among these stocks depends on whether or not you are a buyer on weakness or a seller of strength. We advocate using a good-'til-cancelled limit order to buy weakness to a value level or to sell strength to a risky level.