November 4, 2011
Shares of Intel Corp (NASDAQ: INTC) rallied on Thursday, November 3 and posted a bullish reversal day.
Intel Corp is a semiconductor chip maker, which develops advanced integrated digital technology products, mainly integrated circuits, for industries such as computing and communications. It is a bell weather in the semiconductor sector.
Intel reached a new intra-day low at 23.28, below the low of the previous trading day, and then reversed and rallied into the close, reaching a higher high than the previous trading day and closing near that high.
This is a bullish outside reversal day and such days are usually followed by higher highs over the coming days if not weeks.
Support is at $23.28 a share. Resistance is the prior closing rally high at 25.13.
The Fibtimer.com (http://www.fibtimer.com) Stock Timing Strategy does hold a position in Intel.