Twitter Ticker ($INTC)

• Charles Amadeus
• October 14th, 2009

Intel is hot on StockTwits as the technology leader announced “better than expected” Q3 results, but the stock fell in after hours trading. Though $INTC remains the worlds best chip manufacturer, a long look at the trading history reveals challenges ahead.

Since 2004, $INTC has traded in a range between 31 and 11, and has risen nearly 30% since breaking out on May 4th 2009. Trading in a primary and secondary  uptrend above a rising upper Bollinger on the daily timeframe, $INTC looks poised for further gains.

The one hour time frame suggests an upside target of 21.78, but a move below 20.34 would signal consolidation. The broad market is showing signs of weakness, so the chances of a pop and drop are elevated.

Rather than chasing stocks, my day trading is focused on UPRO, the 3x Bull S&P 500 ETF. Riding this intraday using a 1minute P&F chart scaled to the Average True Range offers many good opportunities.