Flashback To Monday Morning
Here are the last three sentences from my Monday morning post about Intel(INTC). “Intel (INTC) is sitting right on the 50day mvg. avg. and there is a gap just below between 26.50-27 that represents a great entry point. Hope for some bad news for the company or a market selloff to try and get it on a drop since it is down significantly for the year and maybe tax loss selling will get it there. The company is slowly turning around their recent problems and will be better than fixed income going forward.” It looks like you should be able to pick it up tday under 27. Even if you believe the stockmarket probably has additional weakness ahead of it, as I do, Intel is a market leader. Doesn’t mean it always outperforms, this year that is clearly NOT the case, but it does almost always leads moves in the stock market, both up and down. As I said in that Monday post it has been down for the year and is now experiencing additional tax loss selling but will soon bottom and lead any future rallies. It is washed out, has the 5+% yield and will be a winner in 2023. It could be a small gain or a substantial one, time will tell. The chart shows a gap at 38, so that is a good first target and would represent a nice 40% gain. I would think that is realistic for sometime in 2023 but believe this will prove to be a long term winner, like IBM, and would not be looking to sell there, unless, trading in and out is your up of tea.