INTC

INTCWeekly – Trade pressures are down. Volume has turned neutral. INTC Has completed the move down to the weekly 31.99 target.

Daily – Trade pressures have turned up. Volume is bullish. The long entry price is 34.56. the next target up is 37.71. ┬áThe trade will be wrong if price closes below the 200 MA, currently 33.20. ┬áPrice has closed above the long entry price once in the last three days. A second time thru should confirm the long entry. Watch the intraday charts for the reversal.

Use that 200 MA level as the stop.

[Update: 2/23] No entry. price is pulling back to the 200 Day MA and showing positive divergence. Bullish volume and Positive trade pressures. Watch for a “wash and rinse” at the 200 day.

[Update 3/12/2015:] Cancel the trade. No entry as the price failed to close above the long entry price. Now the price has closed below the 200 day and prior pivot points – A good view of the South Ocean method keeping us out of a trade.

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