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Intel Looks Strong

By Gary Morrow

 About this article:
 Intel is up over 3% today on a powerful burst of volume. The stock began the day with a gap higher and has been trading well above its opening action all day. Intel is now at new highs for the year after easily taking out the early May highs of $16.75, which had been a six-month high. Volume is running well above the daily average and will be the heaviest positive day in eight weeks. This surge has pushed shares above a very tight 12-week consolidation pattern that began shortly after the March rally. Intel had been stuck in a $1.75 range as volume flatlined during the sideways movement. Intel has convincingly taken out the former resistance at the May and June highs and has left behind a solid base. INTC Daily (Nasdaq) Intel TradeStation A...

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