During the run up in the equity markets two weeks ago, semi-conductor stocks lead the charge higher. The rally, is based on higher demand and Intel was one of the leaders of the sector.
Shares of Intel (INTC) moved higher Friday above average volume. Approximately 60.3 million shares have traded hands vs. average 30-day volume of 54.9 million shares. Spikes in volume can validate a breakout or signify a potential turning point.
In the last five trading sessions, the 50-day MA has fallen 0.3% while the 200-day MA has remained constant. In the past 52 weeks, shares of Intel have traded between a low of $18.69 and a high of $23.96 and are now at $22.16, which is 18% above that low price.
Intel is moving toward an intermediate break out level near 22.50, which would quickly lead toward a test of the highs seen in July and August near 23.25. Look for semi-conductors to continue to lead the markets on higher upward movement.
The Trade – Purchase a daily binary call option on INTC on a daily close above 22.60 with a cap at 23.00.
Signal Summary
Asset : Intc
The trade : Binary Call Option
Expiry time : End of day
When : On a daily close above 22.60 with a cap at 23.00.
